
Two new data reports released Monday morning are pointing to rising problems impacting the U.S. housing market.
Construction Concern: The latest Housing Market Index (HMI) published by National Association of Home Builders (NAHB) and Wells Fargo (NYSE:WFC) recorded its seventh straight monthly decline in July with a 12-point drop to 55. This is the lowest HMI reading since May 2020 and the second largest single-month drop: only the 42-point drop in April 2020 was more severe.