According to the National Association of Home Builders and Wells Fargo Housing Market Index, homebuilder confidence dipped in May to 45, down from 51 in...
According to the National Association of Home Builders and Wells Fargo Housing Market Index , homebuilder confidence dipped in May to 45, down from 51 in April. With mortgage rates above 7%, many prospective home buyers remain on the sidelines, though single and multifamily housing starts modestly ticked higher in April.Home builder confidence dipped in May as 7% mortgage rates keep many prospective home buyers on the sidelines according to the National Association of Home Builders.
So April's rebound really was driven by multifamily start which jumped over 30% which is a bit lower than pre pandemic levels.
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