More homebuilders think housing conditions are poor versus good this month.
The only ones that were optimistic about housing don't feel as upbeat anymore.National Association of Home Builders
The waning sentiment reflects the latest uptick in mortgage rates — which have stayed above 7% for five straight weeks, stifling affordability — plus escalating costs for construction materials and labor. Nearly one third of homebuilders reduced prices to boost sales in September, up from 25% in August and the largest share since December 2022, according to the NAHB. The average price discount remained at 6%.High prices and surging mortgage rates have hammered affordability.
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