Economic Report: Builder confidence rises for fourth consecutive month amid low number of resale listings

by | Apr 17, 2023 | Stock Market

The numbers: A lack of listings on the resale housing market is boosting demand for new construction, which is lifting home-builder confidence. The National Association of Home Builders (NAHB) monthly confidence index rose one point to 45 in April, the trade group said on Monday.

This is the fourth month in a row that sentiment has improved among builders. The slight rise in confidence matched expectations on Wall Street. The March reading of 45 was the strongest since September 2022. A year ago, the index stood at 77. Builders were optimistic about the future as buyers contend with a low number of homes on the market. Home sellers are feeling trapped and unwilling to give up their ultralow mortgage rates.  Builders are not feeling the same constraints, giving them room to offer various enticements to lure eager buyers. Key details: The three gauges that underpin the overall builder-confidence index were mixed.
The gauge that marks current sales conditions rose by 2 points. 

The component that assesses sales expectations for the next six months rose by …

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