Affordable housingBy RISE Community editors
Builder confidence falls to 29 in October, lowest reading since June 2012
Builder confidence in new single-family homes fell to 29 in October, its lowest since June 2012, according to the NAHB/Wells Fargo index.
Key facts
- The NAHB/Wells Fargo Housing Market Index dropped three points to 29 in October, its weakest reading since June 2012.
- NAHB Chief Economist Robert Dietz said buyer traffic is at its weakest since April 2012, not counting April 2020, when the pandemic began.
- NAHB Chairman Bill Owens said mortgage rates have risen well past 7% in recent weeks.
- The median sales price of new homes is near a five-year low, and builders are relying more on price cuts and sales incentives.
- The Midwest is faring better than other regions on single-family building, with permits up 2.9%, according to NAHB.
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Read the original at HousingWire (opens in a new tab)
Source: Builder confidence plunges as rate shock, costs squeeze margins — HousingWire, October 19, 2026. Summary and commentary by RISE Community; read the full story at the source.
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