By Evan Sully
(Reuters) – U.S. homebuilder confidence in the market for single-family homes fell in August to its lowest reading in 13 months, a report released on Tuesday showed.
The NAHB/Wells Fargo Housing Market index declined 5 points to a reading of 75 this month, its lowest level since July 2020, from 80 in July. Economists polled by Reuters had expected the index to remain unchanged from the month prior.
A reading above 50 means more builders view market conditions as favorable than poor. The index hit an all-time high of 90 in November 2020.
(Reporting By Evan Sully; Editing by Chizu Nomiyama)
