US housing market on point of decline as builder's confidence continues to fall

Posted on April 25, 2022   |  

• In April, builder confidence in the market for newly-built single-family homes moved two points lower to 77, which is the fourth straight month that builder sentiment has declined.
• Current sales conditions declined to their lowest points since last summer due to a sharp increase in mortgage rates and persistent supply chain disruptions continue to unsettle the housing market.
• Mortgage interest rates increase over 1.9% points since the start of the year and currently stand at 5%, the highest level in more than a decade.