US Homebuilder Sentiment Drops to Five-Month Low on Tariff Costs
Construction workers install frames for windows and doors in a home being built in Bloomfield Hills, Michigan.
Photographer: Emily Elconin/BloombergThis article is for subscribers only.
Confidence among US homebuilders dropped in February to the lowest since before President Donald Trump took office as high mortgage rates and concern over tariffs sapped much of initial optimism for the new presidential administration.
A gauge of housing market conditions from the National Association of Home Builders and Wells Fargo fell 5 points to 42, the lowest since September. The figure was below all estimates in a Bloomberg survey of economists.