Homebuilder Sentiment Soars as Mortgage Rates Plummet
TL;DR
Builder confidence in the market for newly built single-family homes rose in December, ending a four-month decline, as falling mortgage rates attracted prospective buyers who were previously priced out of the market. The National Association of Home Builders (NAHB) reported that builder sentiment increased by three points to 37. The rise in confidence is supported by recent economic data indicating improving housing conditions. However, builders continue to reduce home prices and offer sales incentives to boost sales, as mortgage rates remained above 7% in November.
Topics:businesseconomy#builder-sentiment#economy#home-prices#housing-inventory#housing-market#mortgage-rates
- Builder Sentiment Rises on Falling Interest Rates National Association of Home Builders
- As mortgage rates fall, homebuilders are feeling good about the housing market again CNN
- New Construction Is a Housing Market Bright Spot. It Could Get Even Better for Builders. Barron's
- Homebuilder sentiment rises more than expected as mortgage rates fall Fox Business
- US Homebuilder Sentiment Rose in December as Mortgage Rates Fell Bloomberg
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