Indicators
US Homebuilder Sentiment Hits 13-Month High Amid Tight Supply
- Low existing inventory keeps demand for new homes strong
- Homebuilders continue to grapple with elevated interest rates
Contractors work on a home in Sumter, South Carolina.
Photographer: Micah Green/BloombergThis article is for subscribers only.
US homebuilder sentiment rose in July to the highest level in 13 months as buyers continued to opt for new construction amid a tight housing supply.
The National Association of Home Builders/Wells Fargo gauge increased for a seventh-straight month, to 56 from 55 in June. The figure matched the median estimate in a Bloomberg survey of economists.