Sentiment among US housebuilders slips in June

Sentiment among US housebuilders unexpectedly deteriorated a little in July.

The National Association of Home Builders/Wells Fargo housing market index fell to 59 from 60 the previous month, missing expectations for it to remain unchanged.

The index of current conditions slipped one point to 63 while the index charting expectations in the next six months declined three points to 66.

Finally, the component measuring buyer traffic was off one point to 45.

Homebuilder and NAHB chairman Ed Braid said: “We are still hearing reports from our members of scattered softness in some markets, due largely to regulatory constraints and shortages of lots and labour."