Homebuilder sentiment plunges in July as buyers pull back

Posted on AllSides July 18th, 2022
From The Center
Rebecca Noble | Bloomberg | Getty Images

Confidence among builders in the nation’s single-family housing market fell in July to the lowest level since the start of the pandemic.

The National Association of Home Builders/Wells Fargo Housing Market Index, a survey designed to gauge market conditions, found builder sentiment dropped 12 points to 55. That marked the largest single-month drop in the survey’s 37-year history with the exception of April 2020, when the reading plummeted 42 points to 30 after the start of the Covid-19 pandemic.

Any rating above 50 on the index is still considered positive,...

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