A worker drills plywood on a single family home under construction in Lehi, Utah, on Friday, Jan. 7, 2022.
George Frey | Bloomberg | Getty Images
Builder sentiment in the market for single-family homes fell into negative territory in August, as builders and buyers struggle with higher costs.
The National Association of Home Builders/Wells Fargo Housing Market Index dropped 6 points to 49 this month, its eighth straight monthly decline. Anything above 50 is considered positive. The index has not been in negative territory since a very brief plunge at the start of the Covid pandemic. Before that, it hadn’t been negative since June 2014.
“Tighter monetary policy from the Federal Reserve and…