US Homebuilder Sentiment Declines to Lowest Level in Nine Months
A contractor works on a home in Lehi, Utah.
Photographer: George Frey/BloombergThis article is for subscribers only.
US homebuilder sentiment fell to a nine-month low in October, the latest indication of the toll on residential real estate from soaring mortgage rates and declining affordability.
The National Association of Home Builders/Wells Fargo gauge slid 4 points to 40 this month, marking a third straight decline. The reading was weaker than all but one economist’s forecast in a Bloomberg survey, which had a median projection of 44.