Builder confidence in the United States for newly built single-family homes decreased in September for the ninth consecutive month this year, with the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) falling to 46 and marking the lowest figure since May 2014 excluding the spring of 2020, the organization reported on Monday.
Builder confidence was predominantly affected by high mortgage rates and home prices and ''the housing recession shows no signs of abating'' due to elevated construction costs and an aggressive monetary policy from the Federal Reserve.
The index for current sales conditions saw a decline of 3 points, reaching 64, with sales expectations for the next six-month period dropping one point to 46. The index measuring traffic of prospective buyers fell one point to land at 31.
