US Homebuilders’ Sales Expectations Slip as Financing Costs Rise
Aside from surging mortgage rates, residential land is rising in price.
Photographer: Micah Green/BloombergThis article is for subscribers only.
US homebuilders grew less upbeat this month about sales prospects as surging mortgage rates risk spooking buyers.
A gauge of the outlook for home purchases over the next six months dropped 6 points to 60, the first decline since June, according to data released Thursday by the National Association of Home Builders and Wells Fargo.