Builder Sentiment at Third Lowest Reading Since 2012

Builder confidence in the market for newly built single-family homes was 32 in June, down two points from May, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today. The index has only posted a lower reading twice since 2012 – in December 2022 when it hit 31 and in April 2020 at the start of the pandemic when it plunged more than 40 points to 30.