Via WSJ :

“The National Association of Home Builders' index for sales of new, single-family homes fell to 42 in June from 46 in May, marking its lowest point since April 1995, the association said Monday.

The May index was revised up one point from a preliminary estimate.

When the Housing Market Index is over 50, it means the number of builders who see “good” sales outnumber the number who see “poor” sales. The index, which is adjusted for seasonal variations, was based on a survey of 455 home builders, who answer questions about sales prospects now and in the near-term.

The association pointed to rising mortgage rates, “deepening affordability issues” and the retreat of investors from the market as reasons for the increased pessimism from home builders.”