U.S. Homebuilder Sentiment Declined in April for a Fourth Month

Sentiment among U.S. homebuilders fell in April for a fourth straight month, reflecting higher lumber prices and limited land availability, according to data Monday from the National Association of Home Builders/Wells Fargo.

Soaring lumber prices, partly a reflection of U.S. tariffs, are raising the cost of home construction at the same time mortgage rates near a four-year high hamper affordability. Higher borrowing and materials costs indicate home ownership will be less attractive for those wanting to enter the market for the first time. Developers, nonetheless, remain upbeat about the market’s prospects because of a strong job market, bigger after-tax paychecks and improving finances.