Home­builders’ hopes for sales de­cline

Northwest Arkansas Democrat-Gazette - - BUSINESS & FARM -

WASH­ING­TON — U.S. home­builders are feel­ing less op­ti­mistic about their sales prospects, al­though their over­all out­look re­mains pos­i­tive.

The Na­tional As­so­ci­a­tion of Home Builders/Wells Fargo builder sen­ti­ment in­dex, re­leased Tues­day, de­clined to 64 this month. That’s down two points from a down­wardly re­vised read­ing of 66 in June and the low­est level since Novem­ber.

Read­ings above 50 in­di­cate more builders view sales con­di­tions as good rather than poor. The in­dex has been above 60 since Septem­ber.

The July in­dex fell short of an­a­lyst pre­dic­tions, which called for a read­ing of 67, ac­cord­ing to Fac­tSet.

Read­ings gaug­ing builders’ view of sales now and over the next six months also fell from last month. A mea­sure of traf­fic by prospec­tive buy­ers also de­clined.

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