High interest rates, rising material costs and labor shortages are holding back US homebuilding, threatening to prolong the country's housing shortage. A Realtor.com analysis found the U.S. was short more than 4 million homes by the end of 2025. The NAHB/Wells Fargo Housing Index, which gauges builder confidence, fell to 29 in October, where readings above 50 mean more builders see conditions as good than poor. The average 30-year mortgage rate climbed to 7.4% this month, the highest since November 2023, and 43% of builders cut prices in October, the most since 2020. Single-family starts fell 4.6% in September from August and are down 4% so far in 2026.
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SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/20/2026 | 769.05 |
| Change that session | +0.34% |
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