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US Builders Leaned Heavily On Incentives Ahead Of Mortgage Rate Plunge
Given the sharp decline in financing costs witnessed in recent weeks, you might expect homebuilders to be in a better mood. Alas.
Builder sentiment printed a new low for 2024 on the NAHB's gauge, updated for August on Thursday.
This month's decline -- two points from a downwardly-revised 41 in July -- was the fourth consecutive.
At just 39, the index now sits 11 points below the threshold separating net optimism from pessimism, the furthest underwater sentiment's been since December.
There
