News about homebuilders

Homebuilder confidence has fallen to its lowest level since 2012, according to the latest National Association of Home Builders (NAHB) and Wells Fargo Housing Market Index. Rising mortgage rates and higher energy and material costs have pushed builder sentiment to a 14-year low, keeping more buyers on the sidelines, according to NAHB Chief Economist Robert Dietz. The headline index rose one point to 38 in March, a slight gain but still well below the breakeven level of 50 that separates positive from negative conditions. NAHB Chairman Bill Owens said affordability remains a top concern, as buyers wait for lower rates while builders face high land, labor and construction costs. Dietz also pointed to global events and energy prices as headwinds, but said efforts to reduce regulatory burdens could help long-term housing supply.