Despite mixed signals about the housing market in May, builder confidence in the market for newly built, single-family homes rose four points in June to reach a level of 49 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI)  It remains one point shy of the threshold for what is considered good building conditions.

"After several months of little fluctuation, a four-point uptick in builder sentiment is a welcome sign and shows some renewed confidence in the industry," said Kevin Kelly, NAHB chairman, a home builder and developer from Wilmington, Del. "However, builders are facing strong headwinds, including the limited availability of labor."