Builder confidence has been in negative territory now for 15 straight months. Confidence rose slightly in July due to the recently passed budget bill. Buyer traffic saw a 1 point drop to 20, which is the lowest reading since the end of 2022. A construction worker carries a sheet of OSB sheathing as he builds a roof on a residential homes in Irvine, California, U.S., March 28, 2025. Mike Blake | Reuters
The nation’s homebuilders continue to see weakening demand from potential buyers concerned about the broader economy. As a result, they are cutting prices at the highest rate in three years, according to the monthly builder confidence survey from the National Association of Home Builders.
Builder confidence in July rose 1 point to 33 on the NAHB index, a slight improvement. Still, anything below 50