Homebuilder sentiment plunges in July as buyers pull back
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,...