With low existing inventory keeping demand for new homes solid, the National Association of Home Builders released a report on Tuesday showing an uptick in U.S. homebuilder confidence in the month of July.
The report said the NAHB/Wells Fargo Housing Market Index inched up to 56 in July from 55 in June. The slight increase matched economist estimates.
The housing market index increased for the seventh straight month, reaching its highest level since hitting 67 in June 2022.
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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.