?EUR??,,????'??Many builders sense some tapering off of single-family buyer demand, but remain reasonably confident in the ongoing strength of their markets,?EUR??,,????'?? said NAHB President Dave Wilson. ?EUR??,,????'??They obviously are reacting to higher interest rates and energy costs, along with some buyer resistance to high house prices.?EUR??,,????'??

The overall HMI declined from 61 to 57 in December ?EUR??,,????'??? its lowest level since April of 2003, when it stood at 55. The components for current sales and traffic of prospective buyers were each down this time around, by four points to 63 and seven points to 39, respectively. However, the component gauging builder expectations for the next six months held firm at 65.

Builder confidence declined across every region in December. The Northeast and South registered only marginal, two-point declines to 59 and 66, respectively, while the exceptionally strong West showed an uncharacteristic seven-point decline to a still-solid 74. In the Midwest, where unusually wet weather and a weak job market were challenges, another four-point decline brought that region?EUR??,,????'???s HMI score down to 33.