US Homebuilder Sentiment Slides to Lowest Level Since 2023

Confidence among US homebuilders slumped in May to the lowest level since late 2023, as tariffs made it harder to price homes and anxious consumers dragged their feet on purchases.

An index of overall market conditions from the National Association of Home Builders and Wells Fargo slipped 6 points to 34 this month. That trailed all estimates in a Bloomberg survey of economists.