US: Builder confidence slips two points in July, remains solid - NAHB

"Builder confidence in the market for newly-built single-family homes slipped two points in July to a level of 64 from a downwardly revised June reading" the National Association of Home Builders/Wells Fargo announced on Tuesday.

Key quotes:

• It is the lowest reading since November 2016
• "Our members are telling us they are growing increasingly concerned over rising material prices, particularly lumber,” said NAHB Chairman Granger MacDonald, a home builder, and developer from Kerrville, Texas. “This is hurting housing affordability even as consumer interest in the new-home market remains strong.”
• All three HMI components registered losses in July but are still in solid territory