Homebuilder confidence, weighed down by the government budget uncertainty, dropped to its lowest level in four months in October, but builder sentiment of the near future is still more positive than negative, according to the National Association of Homebuilders.

“A spike in mortgage interest rates along with the paralysis in Washington that led to the government shutdown and uncertainty regarding the nation’s debt limit have caused builders and consumers to take pause,” said NAHB Chief Economist David Crowe in a statement. “Once this government impasse is resolved, we expect builder and consumer optimism will bounce back.”

Source: National Association of Homebuilders 

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top