US Builder Confidence for Newly Built Single-Family Homes Falls in April
Builder Sentiment Posts Notable Decline on Economic Uncertainty
On Wednesday, the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reported that builder sentiment for newly built single-family homes fell to 34 in April, down 4 points from 38 in March. This is the lowest level since September 2025, and sentiment has now remained in negative territory for 24 consecutive months.
The HMI survey showed that 36% of builders reported cutting prices in April, down from 37% in March. The average price reduction was 5% in April, down from 6% in March. The use of sales incentives was 60% in April, compared with 64% in March; this marks the 13th consecutive month this share reached 60% or higher.
The HMI component measuring current sales conditions fell 4 points to 37, while the gauge of sales expectations over the next six months dropped 7 points to 42, and the index tracking prospective buyer traffic declined 3 points to 22.
Regional three-month moving averages largely showed declines. The Northeast fell 2 points to 42, and the Midwest dropped 2 points to 41. The South held steady at 35, while the West fell 3 points to 29.
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