US builder sentiment expanded for the 7th straight month in July

Posted on July 21, 2023   |  

In July, builder sentiment for newly-built single-family homes grew 1 point to a reading of 56, the 7th straight monthly increase and the highest since June 2022.

Low existing inventory is keeping demand solid for new homes and raising builder confidence amid high mortgage rates, construction costs, and limited lot availability.

Builders are concerned over rising mortgage rates closing 7% and continue to grapple with supply-side challenges.