?EUR??,,????'??Builders are adopting an increasingly cautious attitude in their near-term outlook for new-home sales,?EUR??,,????'?? said NAHB Chief Economist David Seiders. ?EUR??,,????'??They?EUR??,,????'???re experiencing falling sales, rising sales cancellations, and increasing inventories of unsold units.

Derived from a monthly survey that NAHB has been conducting for 21 years, the NAHB/Wells Fargo HMI gauges builder perceptions of current single-family homes and sales expectations for the next six months as ?EUR??,,????'??good,?EUR??,,????'?? ?EUR??,,????'??fair?EUR??,,????'?? or ?EUR??,,????'??poor.?EUR??,,????'?? The survey also asks builders to rate traffic of prospective buyers as either ?EUR??,,????'??high to very high,?EUR??,,????'?? ?EUR??,,????'??average?EUR??,,????'?? or ?EUR??,,????'??low to very low.?EUR??,,????'?? Scores for each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view sales conditions as good than poor.

Two of the three component indexes declined in August. The component that gauges current single-family home sales declined five points to 32, while the component gauging expected sales in the next six months fell four points to 37. The component gauging traffic of prospective buyers remained even from last month, at 22.