The National Association of Home Builders (NAHB) reported last week that builder confidence is down this month -- for the 3rd consecutive month.

This data comes from the NAHB/Wells Fargo Housing Market Index released on July 16th.

“The worsening housing slump and the near-meltdown in financial markets last week makes it even more urgent for Congress to complete action on the housing bill now, a move that will help stabilize and restore confidence in housing and the U.S. economy,” said NAHB President Sandy Dunn.

The region with the biggest decline was the Midwest, with a 6 point decline in the index scale.