Builders are confident as construction continues at a steady pace

The new home market took a breather in June after a red-hot May, according to a report from the U.S. Census Bureau and Department of Housing and Urban Development on Wednesday.

The 8% drop in housing starts to an annual level of 1.43 million was a little below estimates of 1.49 million, but followed a strong May that was revised downward to 1.56 million from its prior level of 1.63 million.