WASHINGTON – Builder sentiment fell for the 10th straight month in October and traffic of prospective buyers fell to its lowest level since 2012 (excluding the two months in the spring of 2020 at the beginning of the pandemic). The National Association of Home Builders (NAHB) said that the results are a further signal that rising interest rates, building material bottlenecks and elevated home prices continue to weaken the housing market.

In another sign that the slowdown in the housing market continues, builder sentiment fell for the ninth straight month in September as the combination of elevated interest rates, persistent building material supply chain disruptions and high home prices continue to take a toll on affordability. 

A sharp decline in single-family home construction is another indicator that the housing slowdown is showing no signs of abating, as rising construction costs, elevated mortgage rates and supply chain disruptions continue to act as a drag on the market.

Housing starts and building permits were down in May, according to new statistics released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

Home builders warn of current deteriorating conditions as a sharp jump in mortgage rates in March and April coupled with ongoing building material supply chain disruptions, labor shortages and high inflation drive up housing costs.

Growing inflation concerns and ongoing supply chain disruptions snapped a four-month rise in builder sentiment even as consumer demand remains robust, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) released Jan. 18.

VANCOUVER, BC -- After slowing down in the summer, sales of new US single-family homes rocketed up by +14%, while the median price of newly built houses increased by even more, compared to the previous month, according to Madison's Lumber Reporter There were 800,000 new U.S. homes sold in September, which is up +14% from a significantly downwardly-corrected 702,000 in August, and is down -18% from 971,000 in September 2020.