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Home›Real Estate›Residential›Builder Confidence Hits Lowest Level Since 2012

Builder Confidence Hits Lowest Level Since 2012

Reported · Written up by our desk · Residential

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) dropped three points to 29 in October--its lowest level in 14 years. As per usual, higher mortgage rates, rising costs, and worsening labor and lot conditions were the driving factors. All three component indices declined, with prospective buyer traffic suffering the steepest drop. HMI Component September October Change Current sales conditions 35 33 -2 Sales expectations 37 32 -5 Prospective buyer traffic 23 18 -5 "Buyer traffic has now fallen to its lowest level since April 2012, excluding the initial pan

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Mortgage News DailyBuilder Confidence Hits Lowest Level Since 2012

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