U.S. Homebuilder Sentiment Drops to 13-Month Low as Costs Bite
- Index fell for third month on supply constraints, high prices
- Midwest and South reached lowest confidence levels in a year
Homes under construction in the Woodbridge subdivision in Sumter, South Carolina.
Photographer: Micah Green/BloombergThis article is for subscribers only.
U.S. homebuilder sentiment fell to a 13-month low in August amid high prices and costs as well as continuing supply shortages.
A gauge of builder sentiment decreased for a third month to 75 from a July reading of 80, the largest drop since April 2020, National Association of Home Builders/Wells Fargo data showed Tuesday. The median forecast in a Bloomberg survey of economists called for no change in the index from the month before.