| Confidence among home builders fell two points to 54 in May, missing Wall Street’s forecast, according to National Association of Home Builders and Wells Fargo. Builders’ views on present sales of single-family homes fell two points to 59 in May. “Consumers are exhibiting caution, and want to be on more stable financial footing before purchasing a home,” said David Crowe, NAHB’s chief economist. But there’s still hope for home sales, he added: “Mortgage rates remain low, and house prices are affordable. These factors should spur the release of pent-up demand moving forward.” |
