U.S. Home-Builder Sentiment Falls to 14-Year Low
The NAHB/Wells Fargo Housing Market Index fell to its lowest level in 14 years, with high mortgage rates, elevated costs and worsening labor conditions weighing on builder confidence.
U.S. home-builder confidence has fallen to its lowest point in 14 years, with high mortgage rates, elevated costs and deteriorating labor conditions weighing on sentiment. The NAHB/Wells Fargo Housing Market Index measures builders’ confidence in the market for newly built single-family homes.