US Homebuilder Sentiment Increases for a Fourth-Straight Month
- NAHB’s April gauge edged up 1 point to seven-month high
- Gain driven by advances in current and expected sales
Workers frame new homes in Lake Forest, California.
Photographer: Patrick T. Fallon/Bloomberg
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US homebuilder sentiment rose for a fourth month in April as limited resale inventory helped drive demand for new houses, suggesting the residential real estate market is slowly recovering.
The National Association of Home Builders/Wells Fargo gauge edged up one point to a seven-month high of 45, figures showed Monday. Even with the recent improvement, the gauge is well below levels seen at the end of 2021, when mortgage rates were much lower.