A gauge that measures confidence among U.S. builders for newly built, single-family homes dropped two points to 54 in May based on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released on Monday by NAHB.

Here are the results on the NAHB's press release:

The Index's Components: Month-Over-Month Results

The various components of the confidence index in May showed mixed results. The component representing sales expectations in the next six months jumped from 63 to 64, while the component charting traffic of perspective buyers dipped from 40 to 39. Another component that gives indication on current sales conditions is down from 61 to 59.

Regional Index: Three-Month Moving Averages

U.S. builders' confidence also differ regionally. The Midwest jumped one point from 54 to 55, South up from 56 to 57. The Northeast dropped from 42 to 41, while the West decreased three points from 58 to 55

What Experts Say

The May 2015 reading is still a nine-point year-over-year jump from last May's reading of 45. NAHB Chairman Tom Woods, a home builder from Blue Springs, Missouri says that it is still a fair reading, as it posts above 50.

"Despite this month's slight dip, builder confidence in the new home market remains above the 50-point benchmark. Overall, the second quarter of 2015 is shaping up to be very solid," said Woods on the press release.

Readings above 50 mean that majority of the builders still have a "favorable view of the market," as explained on The Wall Street Journal. However, economists asked by the Journal predicted a May confidence reading of 58, making the published reading significantly lower.

NAHB Chief Economist David Crowe says that home buyers are perceived to being more careful towards the homeownership path.

"Consumers are exhibiting caution, and want to be on more stable financial footing before purchasing a home. On the bright side, the HMI component measuring future sales expectations has been tracking upward all year, mortgage rates remain low, and house prices are affordable. These factors should spur the release of pent-up demand moving forward," Crowe stated on the NAHB's website.

Dip in Confidence Amid Spring Selling Season's Promising Outlook

The Journal noted that home builders' confidence dipped amid earlier reports that show a great start for the spring home-selling season.

Pending home sales index by National Association of Realtors, which also indicates a good measure of homes bought, increased in March, reported CNBC. The association predicts that existing home sales for the entire year will "reach the highest level since 2006," as noted on the Journal.