NAHB's confidence indicator dropped modestly, missing expectations (for the 4th time in the last 5 months) by the most since October as prospective buyer traffic tumbled. While the "hope" of realtors remains notably disconnected from the reality of sales (for the 3rd time in 20 years, the 4-month slide in prospective buyer traffic is the largest since Spetember 2010 and has dropped to its weakest since May 2013.
4th miss in last 5 months...
Hope remains but is stalling...
Buyer Traffic is tumbling
[3]
Charts: Bloomberg