More Homebuilders Lower Prices
Sentiment has fallen for the ninth straight month
More builders are lowering prices for homes as their confidence in the market continues to tumble.
Homebuilder sentiment in September fell three points to 46 on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything below 50 is considered negative.
That is the ninth straight month of declines and the lowest level since may of 2014, with the exception of a short-lived drop at the start of the coronavirus pandemic in 2020. Sentiment was at 83 in January of this year, when interest rates were about half of what they are now.
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