Builder confidence rose in September, with the National Association of Home Builders/Wells Fargo Housing Market Index climbing to 41 from 39 in August. This increase breaks a four-month decline, supported by lower mortgage rates.
Builders now expect stronger sales, with the index measuring future sales expectations rising to 53. However, construction costs remain a concern, impacting affordability.
Fewer builders cut prices in September, showing cautious optimism as the market adjusts to shifting dynamics in both new and existing home inventories.
Source: Builder Staff. (2024, September 17). Builder Confidence Inches Higher in September. BUILDER Online.
