Property News · November 20, 2018

US homebuilders’ confidence drops most in four years as rates rise


Confidence among US homebuilders plummeted by the most since 2014 as the highest borrowing costs in eight years restrain demand, adding to signs of a cooling housing market that will weigh on the Federal Reserve’s debate over how far to raise interest rates.
The National Association of Home Builders/Wells Fargo Housing Market Index dropped eight points in November to 60, the lowest level since August 2016, according to a report on Monday. That compared with the median estimate of…

Source : South China Morning Post
Read more…US homebuilders’ confidence drops most in four years as rates rise

You may also like...