US Homebuilder Sentiment Drops as Companies Wait for Rate Cuts
- Housing market conditions views at lowest this year: NAHB
- Outlook gauge rose slighly in August, on hope rates will fall
A family home under construction in Lehi, Utah, US.
Photographer: George Frey/BloombergConfidence among US home builders slipped for the fourth straight month to its lowest point of the year in August as high loan rates and home prices weigh on companies and buyers alike.
An index of housing market conditions from the National Association of Home Builders and Wells Fargo fell 2 points to 39 this month from its revised July level. That trailed the median estimate of economists surveyed by Bloomberg, who expected a level of 43.
