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 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.