Share this article!

National Association of Home Builders CEO Jerry Howard warned on “Varney & Co.” Monday of “a tough time” ahead for the industry as data revealed the housing market has been slowing down.

Howard provided the insight on the same day it was revealed that builder confidence plunged in July amid soaring inflation and increased interest rates, which stalled the housing market by dramatically slowing sales and traffic from prospective buyers, according to the association.

Booking.com

Home builder confidence in the market for newly-built single-family homes dropped 12 points lower to 55 in July, its seventh consecutive monthly decline according to the NAHB/Wells Fargo Housing Market Index (HMI) released on Monday. 

The index can range between 0 and 100 with any print over 50 indicating positive sentiment. Any reading above 80 signals strong demand.

Reset password

Enter your email address and we will send you a link to change your password.

Get started with your account

to save your favorite homes and more

Sign up with email

Get started with your account

to save your favorite homes and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

By clicking the «SIGN UP» button you agree to the Terms of Use and Privacy Policy

Create an agent account

Manage your listings, profile and more

Sign up with email