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- Big earnings reports , homebuilding and the mood of consumers up front next week
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Homebuilder confidence fell to its lowest level since 2012 in the latest NAHB and Wells Fargo Housing Market Index, as rising mortgage rates and higher energy and material costs kept buyers on the sidelines. The headline index rose one point to 38, but remained below the breakeven level of 50 that separates positive from negative conditions. Prospective buyers are waiting for lower rates and greater economic clarity, while builders face elevated land, labor and construction costs. NAHB Chief Economist Robert Dietz pointed to global events and energy prices as headwinds, though he said efforts to reduce regulatory burdens could help long-term supply.
- Homebuilder Sentiment Drops To Lowest Level Since 2012
Homebuilder confidence fell to its lowest level since 2012 in the latest NAHB and Wells Fargo Housing Market Index, a 14-year low driven by rising mortgage rates and higher energy and material costs. Robert Dietz, NAHB Chief Economist, said these factors keep more buyers on the sidelines. Builder confidence edged up in March according to Mortgage News Daily, but remained subdued; the headline index rose one point to 38, still below the breakeven level of 50. NAHB Chairman Bill Owens said affordability remains a top concern for buyers and builders, who face elevated land, labor and construction costs. Dietz also pointed to global events and energy prices as headwinds, while efforts to reduce regulatory burdens could help improve long-term housing supply.
- Builder confidence hits 14 - year low as mortgage rates top 7 %
- US homebuilder sentiment tumbles to near 14 - 1 / 2 - year low in October
The NAHB/Wells Fargo Housing Market Index fell three points to 29 in October, its lowest level since June 2012 and below the 31 economists had forecast. Builders blamed the Middle East conflict, which pushed mortgage rates higher, with the 30-year fixed rate averaging 7.40% last week, the highest in nearly three years, as well as labor shortages from an immigration crackdown and higher costs from tariffs. The share of builders cutting prices rose to 43%, the highest of the 2020-2026 period, while 65% used sales incentives. Buyer traffic fell five points to 18, its lowest since April 2012 excluding the pandemic's onset, as higher mortgage rates, elevated construction costs and weaker consumer confidence kept buyers on the sidelines.
- Builders slash prices on new homes as buyer traffic drops to 14-year low
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