Real Estate

Homebuilder sentiment drops to 10-month low as building costs boost prices

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Residential single family homes construction by KB Home are shown under construction in the community of Valley Center, California, U.S. June 3, 2021.

Mike Blake | Reuters

Builder sentiment in June fell to its lowest level since August, as construction costs pushed new home prices higher, sidelining buyers and making it harder for some builders to get loans.

The National Association of Home Builders/Wells Fargo Housing Market Index dropped 2 points to 81, down from a recent record peak of 90 last November. Anything above 50 is still considered positive.

“Higher costs and declining availability for softwood lumber and other building materials pushed down builder sentiment in June,” said NAHB…



Source cnbc.com

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