All articles tagged with #homebuilder confidence
US new-home sales in May dropped by 13.7%, the largest decline since 2022, due to high mortgage rates, rising costs, and economic uncertainty, leading to increased inventories and a slowdown in construction, with prices slightly rising and regional sales varying.
Homebuilder confidence surged in January as mortgage rates trended lower, with builder confidence in the market for newly built single-family homes surpassing expectations and climbing seven points to 44 on the index. Lower interest rates have improved housing affordability and brought buyers back into the market, but builders are facing challenges with building material cost and availability. Mortgage applications for all types of homes have climbed, with applications to purchase a home up 9% from the previous week but down 20% from a year ago, while applications to refinance a mortgage have shown more life, up 11% from the previous week and 10% higher than a year ago.