U.S. housing confidence index drops for 10th month

The U.S. National Association of Home Builders (NAHB) announced that its Homebuilder Confidence Index fell 8 points in October to 38, marking the 10th consecutive month of decline.

In addition, the sentiment index fell below 50, indicating a negative general outlook.

The confidence index fell below the 50 level in June 2014 before falling below that level again in early 2020, marking the beginning of the Covid 19 epidemic.

The decline in the confidence index has been fueled by concerns about inflation and a recession, including rising mortgage rates and construction costs. As a result, the confidence index for sales in the next 6 months and the current sales confidence index has declined.

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