Builder Sentiment at Third Lowest Reading Since 2012
Builder confidence dropped further in June, with the NAHB/Wells Fargo Housing Market Index falling to 32—one of its lowest levels in over a decade. In response to rising mortgage rates and economic uncertainty, 37% of builders reported price cuts, and 62% used sales incentives to attract hesitant buyers. As inventory rises and affordability challenges persist, the market is seeing weakening price growth and an expected decline in single-family home starts in 2025.
