NAHB Home Builders Index Declines Again as Interest Rates Climb

The NAHB monthly index, released April 18, dropped for the third month to 2 points below March. Two of the measures’ three components showed a marked decline, particularly the outlook for traffic of prospective buyers which fell to 60 points from 66 points in March, with analysts noting that the housing market is highly interest rate sensitive. The report looks ahead to rising home prices and material costs affecting “housing affordability conditions, particularly in the crucial entry-level market.”  Read more.