Yesterday, the July NAHB home builder confidence index fell 1 point to 80. Here is the breakdown of the components: Current Sales: fell 1 point to 86 Sales Expectations: rose 2 points to 81 Traffic: Fell 6 points to 65 While this index has been declining, a reading above 50 signals expansion and 80 is still a very strong level. The month of July is typically slower due to seasonality and there was also a heat wave that may have deterred some traffic.