Builder confidence in the market for newly built single-family homes was 33 in July, up one point from June, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released today. Builder sentiment has now been in negative territory for 15 consecutive months.
HMI Key Findings: July 2025
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Builder confidence in the market for newly built single-family homes was 33 in July, up one point from June.
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Here are the readings for the three HMI indices in July:
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Current sales conditions rose one point to 36.
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Sales expectations in the next six months increased three points to 43.
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Traffic of prospective buyers fell one point to 20.
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....the latest HMI survey also revealed that 38% of builders reported cutting prices in July, the highest percentage since NAHB began tracking this figure on a monthly basis in 2022. This compares with 37% of builders who reported cutting prices in June, 34% in May and 29% in April.
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Meanwhile, the average price reduction was 5% in July, the same as it’s been every month since last November.