Builder sentiment fell to the lowest level in seven months, the National Association of Home Builders said.
As homebuilders face rising costs, policy uncertainty and high mortgage rates, market conditions remain challenging in Spring Selling Season 2025.
New home sales fell more than expected while prices jumped to a two-year high last month. According to the Census Bureau, new home sales were at a seasonally adjusted annual rate of 657,000 in January, below the 679,000 forecast.
Economic indicators provide insight into the overall health and performance of the economy. They are closely watched by policymakers, advisors, investors, and businesses because they help them to make informed decisions about business strategies and financial markets.
Sentiment among the nation's single-family homebuilders dropped to the lowest level in five months in February. The drop was largely due to concern over tariffs, which would raise homebuilder costs significantly.
Builder sentiment fell to the lowest level since September, the National Association of Home Builders said.
CNBC's Diana Olick joins 'Squawk on the Street' to with the latest housing data to cross the tape.
U.S. homebuilder sentiment tumbled to a five-month low in February amid worries that tariffs on imports would combine with higher mortgage rates to further drive up housing costs.
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The December release for new home sales from the Census Bureau came in at a seasonally adjusted annual rate of 698,000 units, beating the 669,000 forecast. New home sales are up 3.6% from a revised rate of 674,000 in November and are up 6.7% from one year ago.
Launched on 05/01/2006, the iShares U.S. Home Construction ETF (ITB) is a passively managed exchange traded fund designed to provide a broad exposure to the Consumer Discretionary - Broad segment of the equity market.