Real Estate

Homebuilder sentiment takes historic plunge in July

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A contractor works on a new home under construction in Tucson, Arizona, U.S., on Tuesday, Feb. 22, 2022. Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, indicating a jump in mortgage rates may be starting to restrain demand.

Rebecca Noble | Bloomberg | Getty Images

Confidence among builders in the nation’s single-family housing market fell in July to the lowest level since the start of the pandemic.

The National Association of Home Builders/Wells Fargo Housing Market Index, a survey designed to gauge market conditions, found builder sentiment dropped 12 points to 55. That marked the largest single-month drop in the survey’s 37-year history with…



Source cnbc.com

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