(NAHB) US builders’ sentiment for newly constructed single-family homes fell five points to reach a 13-month low of 75 in August.
Current sales conditions index plunged five points to 81, with the gauge on traffic of prospective buyers also shedding five points to 60. The index on sales expectations in the next six months was little changed at 81.
Buyer traffic reached its lowest level since July 2020 as higher construction costs resulted in a rise in house prices.
NAHB Chairman Chuck Fowke says policy makers need to find a long-term solution to the supply-chain challenges facing the sector.Homebuilders ETF reacts.
XHB is down -3.07%.
