The U.S. Needs More Homes, but Builders May Be Slowing Construction
Rising interest rates and record home prices are making it impossible for many Americans to buy a house, and that’s making builders less confident that if they build a home they’ll be able to sell it.
A new poll conducted by the National Association of Home Builders shows builder confidence in the market for new single-family homes is at its lowest level since June 2020 after six straight months of decline, “a clear sign of a slowing housing market in a high inflation, slow growth economic environment,” NAHB Chairman Jerry Konter said.