A senior U.S. official said release of frozen assets and sanctions relief will be contingent on concrete, demonstrable performance.

NAHB and Wells Fargo data released Monday showed the housing market index fell 2 points in June to 35, below consensus. The South, the largest U.S. residential-construction region, recorded the biggest drop since Nov. 2023. The index has stayed below 40 for a 14th consecutive month, the longest stretch since 2011–12. By component, the current-sales gauge slipped 2 points to 38 while future-sales expectations and buyer-traffic measures were unchanged. NAHB said rising mortgage rates, higher building-material costs, increased financing costs and permitting/regulatory headwinds are weighing on builders.

GCC secretary-general said the council welcomes the understanding between Washington and Tehran and hopes it will resolve outstanding issues.