Homebuilder confidence in the U.S. unexpectedly slumped to its lowest level in a year in the month of August, according to a report released by the National Association of Home Builders on Tuesday.
The report showed the NAHB/Wells Fargo Housing Market Index tumbled to 75 in August from 80 in July, while economists had expected the index to come in unchanged.
With the unexpected decrease, the housing market index dropped to its lowest level since hitting 72 in July of 2020.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.