Homebuilder sentiment continues to climb as housing market stabilizes.

Homebuilder sentiment in the US rose for the fourth consecutive month in April, as low inventory and declining mortgage rates boosted demand for new homes. The National Association of Home Builders/Wells Fargo's gauge of builder sentiment rose one point to 45, reflecting general caution among builders as we head into the heart of housing's spring selling season. However, the measure of current sales conditions increased in April and sales expectations for the next six months rose, marking the first time these components of the report came in above 50 since June 2022.