Jerry Howard, the CEO of the National Association of Home Builders CEO weighed in on new data, which revealed that the housing market has been slowing down.
National Association of Home Builders CEO Jerry Howard addresses the 'huge drop' in the homebuilder sentiment index on 'Varney & Co.'" Monday of "a tough time" ahead for the industry as data revealed the housing market has been slowing down.
Home builder confidence in the market for newly-built single-family homes dropped 12 points lower to 55 in July, its seventh consecutive monthly decline according to the NAHB/Wells Fargo Housing Market Index released on Monday. "For the last seven straight months it has been going down and this is a huge drop - and I think all it says is, ‘Somebody do something or we’re going to go into a recession,’" Howard said.
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