US Homebuilder Sentiment Declines for First Time This Year
- August figure was lower than all estimates in Bloomberg survey
- NAHB/Wells Fargo gauge declined as high rates put off buyers
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US homebuilder sentiment unexpectedly declined in August for the first time this year as high mortgage rates deterred prospective buyers.
The National Association of Home Builders/Wells Fargo gauge decreased six points to a three-month low of 50. The figure was below all estimates in a Bloomberg survey of economists.