NEW YORK, May 15 (Xinhua) -- Confidence among U.S. homebuilders slumped in May to the lowest level since late 2023, as tariffs made it harder to price homes and anxious consumers dragged their feet on purchases.
An index of overall market conditions from the National Association of Home Builders and Wells Fargo slipped 6 points to 34 this month.
All three components that make up the index fell, with a measure of expected sales in the next six months sliding to an 18-month low. A gauge of present sales dropped to the lowest since late 2022, while traffic of prospective buyers was the weakest in 1.5 years.
"Builders face a host of challenges that include stubbornly high mortgage rates, faltering consumer confidence and government policy that risk further restraining housing demand. Builder sentiment fell in all four US regions in May," noted Bloomberg News on Thursday in its report about the slump.
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