Homebuilder Confidence Collapses To 3.5 Year Low

For the second month in a row, homebuilder confidence tumbled amid broad-based declines across sales, expectations and buyer traffic (down 4 to 56 and b 60 print expected) as hope begins to fall toward to the housing market’s reality. In addition, National Association of Home Builders (NAHB) six-month sales outlook dropped to the lowest since March 2016 while a measure of current sales for single-family homes decreased to a three-year low. “We are hearing from builders that consumer demand exists, but that customers are hesitating to make a purchase because of rising home costs,” said NAHB Chairman Randy Noel. “However,… Read moreHomebuilder Confidence Collapses To 3.5 Year Low