US Homebuilder Sentiment Barely Rises Despite Price Cuts
A worker on the roof of a new home under construction at the Lilac Ridge community by Lennar Homes in Vacaville, California.
Photographer: David Paul Morris/BloombergUS homebuilders’ confidence barely rose this month as they struggled to lure cautious buyers off the sidelines with costly sales incentives.
An index of market conditions from the National Association of Home Builders and Wells Fargo ticked up 1 point in November to 38. A value below 50 means more builders see conditions as poor than good. Economists surveyed by Bloomberg estimated sentiment to hold at 37.