Nationwide, building permits for homes in July were down 2.8 percent from June and down 22.6 percent from the same month last year, according to the U.S. Census Bureau.Meanwhile, not surprisingly, builder confidence continued to erode this month, as nervous potential home buyers continued to sit on the sidelines and tightened lending standards prevented others from qualifying for financing.The National Association of Home Builders/Wells Fargo Housing Market Index, which measures builder confidence, declined 2 points this month to 22. That’s the lowest level since January 1991. The index measures builder perceptions of home sales and expectations for the next six months.

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