Homebuilder confidence has unexpectedly seen a modest deterioration in the month of February, according to a report released by the National Association of Home Builders on Tuesday.
The report said the NAHB/Wells Fargo Housing Market Index edged down to 36 in February after slipping to 37 in January. Economists had expected the index to inch up to 38.
With the unexpected dip, the housing market index dropped to its lowest level since hitting 32 last September.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.