U.S. home builder gloom persists, but some hope seen for next year
December 19, 2022 | Dan Burns | Reuters
Confidence among U.S. single-family home builders fell for a record 12th straight month in December as even a scramble to offer incentives for prospective buyers failed to boost traffic and lift sales in today’s high-inflation, high-interest rate environment.
Kicking off a week of key reports on the health of the foundering U.S. housing market, the National Association of Home Builders on Monday said its NAHB/Wells Fargo Housing Market Index dropped two points to 31 this month, falling short of the median estimate of 34 among economists in a Reuters poll. A reading above 50 indicates that more builders view conditions as good rather than poor.
