Economics
U.S. Homebuilder Confidence Fell to a Four-Month Low in January
- Measures of sales, expectations and buyer traffic declined
- Builders face higher materials costs, less buyer affordability
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U.S. homebuilder confidence slipped to a four-month low in January as firms became slightly less optimistic about sales against a backdrop of higher house prices and construction costs.
A gauge of builder sentiment fell to 83 from December’s reading of 86, National Association of Home Builders data showed Wednesday. The figure was weaker than the median forecast of 86 in Bloomberg’s survey of economists.