U.S. builder confidence for newly built single-family homes rose this month but continued to be in the negative domain amid concerns about tariffs and rising raw material costs, the National Association of Home Builders (NAHB) said in an April 16 statement.
NAHB’s Housing Market Index increased by one point from March to hit the 40 level in April. A reading less than 50 indicates lower optimism among builders about the current and near-term housing outlook.
The group suggested that the one-point bump in confidence was “likely due to a slight retreat in mortgage interest rates in recent weeks.”
NAHB Chairman Buddy Hughes said the recent decline in mortgage rates could have brought some prospective buyers into the market, helping builders net more sales….