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Housing: Home builder sentiment plummets in July

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Yahoo Finance's Julie Hyman reports that home builder confidence has fallen to the lowest level since the start of the pandemic.

Video Transcript

JULIE HYMAN: Well, we had some housing data that just crossed at the top of the hour that's now affecting one subsector. Confidence among homebuilders falling to the lowest level since the start of the pandemic. This was the figure for July. The National Association of Homebuilders Housing Market Index found that builder sentiment dropped to 55. It's the largest single month drop in the survey's 37-year, with the exception of April 2020 after the start of the COVID-19 pandemic. That is having an effect on housing stocks as a result in today's session. So we've been watching those-- that action as well.