{"id":9548,"date":"2023-05-16T15:00:16","date_gmt":"2023-05-16T19:00:16","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/builder-confidence-rises-for-fifth-consecutive-month-amid-ongoing-shortage-of-u-s-homes-for-sale\/"},"modified":"2023-05-16T15:00:17","modified_gmt":"2023-05-16T19:00:17","slug":"builder-confidence-rises-for-fifth-consecutive-month-amid-ongoing-shortage-of-u-s-homes-for-sale","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=9548","title":{"rendered":"Builder confidence rises for fifth consecutive month amid ongoing shortage of U.S. homes for sale"},"content":{"rendered":"
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The numbers:<\/strong> Homebuilders are feeling optimistic amid strong demand from buyers who are struggling with a low number of houses for sale.\u00a0<\/p>\n

Many sellers are holding off on listing their homes as they lack an incentive to give up their historically ultra-low mortgage rate secured during the pandemic.<\/p>\n

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The U.S. National Association of Home Builders\u2019 (NAHB) monthly confidence index rose 5 points to 50 in May, the trade group said on Tuesday.<\/p>\n

This is the fifth month in a row that sentiment has improved among builders. The slight rise in confidence exceeded expectations on Wall Street.<\/p>\n

The May reading of 50 was the strongest since July 2022. A year ago, the index stood at 69.<\/p>\n

Builders were optimistic about the future as buyers continue to deal with a shortage of homes for sale on the market, which is in part a consequence of millions of homeowners refinancing their mortgage to ultra-low rates during the pandemic.<\/p>\n

Key details: <\/strong>The three gauges that underpin the overall builder-confidence index were up.<\/p>\n

The gauge that marks current sales conditions rose by 5 points.\u00a0<\/p>\n