US Builder Confidence for Newly Built Single-Family Homes Falls in June

A for sale sign in Irvine, Calif., on Sept. 21, 2020. John Fredricks/The Epoch Times

Confidence among U.S. home builders has remained subdued in June as the housing market has become strained amid elevated mortgage rates and prospective homebuyers are facing affordability challenges.

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index, which measures builder confidence in the market for newly built single-family homes, declined two points to 35 this month, down from May, the association said in a June 15 statement.