US Homebuilder Sentiment Declines for a Third Straight Month
- NAHB index eased 1 point to 42, the lowest level this year
- 31% of builders cut prices in July, up from 29% in prior month
Overall, 31% of builders cut prices in July, compared with the 29% who did so in the prior month, according to NAHB.
Photographer: Bing Guan/BloombergThis article is for subscribers only.
Confidence among US homebuilders fell for a third straight month in July as elevated interest rates weighed on sales and kept construction financing costs high.
An index of housing market conditions from the National Association of Home Builders and Wells Fargo slipped 1 point to 42, the lowest level this year. The median estimate in a Bloomberg of economists surveyed was 43.