Homebuilder sentiment has fallen to its lowest level since 2012, while housing starts dropped 5.2% in September and pending home sales hit their lowest mark since records began in 2001, according to fresh data from the Census Bureau and the National Association of Realtors. The deepening slump reflects a squeeze on both sides of the market: high mortgage rates near 7.4% are locking out buyers, while builders face soaring capital costs and competition for labour and materials from AI data centre construction and government borrowing.
organisation
National Association of Realtors
US trade association for real estate professionals