Economics
Homebuilder Sentiment in U.S. Drops to Lowest in Six Months
- NAHB index of builder sentiment decreased to 79 in March
- Gauge of expected sales slumped to weakest since mid-2020
Contractors work on a new home under construction in Tucson, Arizona.
Photographer: Rebecca Noble/BloombergThis article is for subscribers only.
U.S. homebuilder sentiment fell in March to a six-month low as labor and supply constraints, along with rising mortgage rates, undermined sales prospects.
The National Association of Home Builders/Wells Fargo gauge decreased to 79 from a revised 81 in February, figures showed Wednesday. The median forecast in a Bloomberg survey of economists called for a March reading of 81.