- Although material cost pressures have shown some signs of alleviating, the cost to finance a home has only increased, with the national average of a 30-year fixed-rate mortgage hovering around 5.5%.
- The NAHB’s Housing Market Index fell from a top 5% reading of 77 last month all the way down to a new 52-week low of 69 this month.
- In spite of the report on homebuilder sentiment, homebuilder stocks, as proxied by the iShares US Home Construction ETF, are actually higher alongside the rest of the market, currently up 1.3%.
For further details see:
Homebuilders Sentiment Free Fall