Here Comes Homebuilder Confidence...

Economists polled by Bloomberg are looking for homebuilder confidence to rise to 47, from 45 in May.

A reading over 50 shows that more builders view conditions as good than poor.

"The rise in mortgage applications for home purchases thus far in June and consistent increases in construction employment in recent months provide support for the index," economists at Nomura said in a press release.

In the last report, NAHB's chief economist said homebuilders were waiting for consumers to "feel more secure about their financial situation."