Homebuilder sentiment rises in April, as builders grab near-record share of the market

PUBLISHED MON, APR 17 202310:00 AM EDTUPDATED MON, APR 17 202311:25 AM EDTDiana Olick

Builder sentiment in the market for newly built homes rose in April for the fourth straight month, as the supply of existing homes for sale remains scarce.

The National Association of Home Builders/Wells Fargo Housing Market Index climbed to 45 in April, a 1-point gain. Anything below 50 is considered negative.

The reading is the highest since September. The index stood at 77 in April 2022.

Builders in the report cited a lack of listings on the resale market, which gave them an unusually strong edge. New listings of existing homes have fallen about 25% compared with a year ago.

Slightly lower mortgage rates are also helping demand — though rates are still higher than they were a year ago…READ MORE>>>https://www.cnbc.com/2023/04/17/april-homebuilder-sentiment-rises-as-builders-grab-near-record-market-share.html

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