Homebuilder confidence in the housing market fell for the 12th straight month in December, according to the National Association of Homebuilders.
Builder confidence in the market for newly built single-family homes in December was at its lowest point since mid-2012, with the exception of the onset of the pandemic.
“In this high inflation, high mortgage rate environment, builders are struggling to keep housing affordable for home buyers,” said NAHB Chairman Jerry Konter.
“The silver lining,” said NAHB Chief Economist Robert Dietz, “is that it is the smallest drop in the index in the past six months, indicating that we are possibly nearing the bottom of the cycle.”
