Lates News

In May, the confidence of American residential builders fell to the lowest level since the end of 2023, due to escalating tariffs on Russian and Japanese imports making pricing homes more difficult, and anxious consumers hesitating on home purchases. The overall Market Condition Index, jointly released by the National Association of Home Builders (NAHB) and Wells Fargo, dropped 6 points to 34 this month. This data was below the estimates of all economists surveyed by Bloomberg. All three sub-indices of the index fell, with the six-month sales expectation index dropping to an 18-month low. The current sales index fell to the lowest level since the end of 2022, and the buyer traffic index hit a year and a half low.