Homebuilder sentiment nears pandemic low as economic uncertainty plagues consumers

Higher mortgage rates and uncertainty in the broader economy continue to weigh on consumers — and consequently on the nation's homebuilders.

Builder sentiment in June dropped 2 points from May to 32 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Anything below 50 is considered negative. The index stood at 43 in June 2024.