The NAHB reported that homebuilders' gauge for current sales conditions rose three points to 51, reflecting builders' improved confidence and increasing sales activity.
NAHB Chairman Carl Harris noted that builders are optimistic despite challenges from rising mortgage rates, which have increased from 6.1% to over 6.9%, impacting demand.
While the share of builders reducing prices dropped to 30%, the average price reduction remained steady at 5%, and 61% offered sales incentives to attract buyers.
NAHB's chief economist Robert Dietz stated that regulatory improvements could lead to a slight gain in single-family housing starts in 2025 amid elevated interest rates.
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