Homebuilder Confidence in U.S. Fell in June to Nine-Month Low
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Confidence among U.S. homebuilders slumped in June to the lowest level in nine months as executives turned more pessimistic on the outlook for sales, a sign that any pickup will take time to develop.
The National Association of Home Builders/Wells Fargo sentiment index unexpectedly fell to 13 from 16 in May, the biggest drop in a year, data from the Washington-based group showed today. The median forecast of economists surveyed by Bloomberg News projected it would hold at 16.