December’s National Association of Home Builders Housing Market Index reported slipping builder confidence in U.S. housing markets. The Housing Market Index readings fell every month in 2022. Recently rising mortgage rates, materials costs, and inclement winter weather contributed to builder skepticism about current housing market conditions.
Strong Builder Confidence May Signal Good Time To Buy New Homes
February’s Housing Market Index reading remains near the HMI’s highest level since April 2006, when the HMI reading reached 51.