【CNBC】REAL ESTATE Homebuilder sentiment falls to 2-year low on declining demand and rising costs

• Sentiment fell 8 points to 69 in May, according to the National Association of Home Builders/Wells Fargo Housing Market Index.
• Of the index’s three components, current sales conditions fell 8 points to 78, and sales expectations in the next six months dropped 10 points to 63. Buyer traffic fell 9 points to 52.
• “Housing leads the business cycle, and housing is slowing,” said NAHB Chairman Jerry Konter, a builder and developer in Savannah, Georgia.

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