Indicators
US Homebuilder Sentiment Falls to Seven-Month Low
Workers install lumber to the exterior frame of a single family home in Lehi, Utah.
Photographer: George Frey/BloombergUS homebuilders’ confidence fell to a seven-month low in April as the Iran war pushed up mortgage rates and materials costs at the start of the spring selling season.
An index of market conditions from the National Association of Home Builders and Wells Fargo declined four points to 34, according to data out Wednesday. A value below 50 means more builders see conditions as poor than good. Measures of current and future sales both deteriorated.