The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose 3 points from April to 37 this month, marking the 25th consecutive negative reading.
“The housing market remains soft as higher mortgage rates, rising gas prices and economic uncertainty related to the war in Iran continue to dampen buyer demand,” said NAHB Chairman Bill Owens.
“Recent increases for long-term interest rates will continue to hold back home buyer demand,” said NAHB Chief Economist Robert Dietz.
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By Jennifer Nash
Builder confidence posted a modest gain in May despite persistent affordability challenges and economic uncertainty. The National Association of Home Builders (NAHB) Housing Market Index (HMI) rose 3 points from April to 37 this month, marking the
