Builder confidence declined in the latest survey from the National Association of Homebuilders..Builder sentiment was already below the midpoint of 50 at 35, indicating lower confidence in the outlook for housing, but it fell three more points in September, according to the NAHB/Wells Fargo Housing Market Index. Current sales conditions declined, as did sales expectations for the next six months; both marks registered in the mid-30s.Pointing to what could be a cooling housing market, NAHB noted that more builders cut prices in September, and more reported needing incentives to drive sales.The index dropped below 50 in May of 2024 and has not risen above that point since then, marking a period of persistent pessimism, albeit not as prolonged or deep as the 2006-2013 timeframe.
