BREAKING: The NAHB Housing Market Index fell -3 points in October, to 29, its lowest level since June 2012.
This marks the 2nd consecutive monthly decline in homebuilder sentiment, totaling -6 points, marking the largest 2-month decrease since June 2025.
All 3 components deteriorated, with current sales falling -2 points, to 33, the lowest since June 2012.
Sales expectations dropped -5 points, to 32, the lowest since November 2022, while buyer traffic plunged -5 points, to 18, the lowest since April 2012, excluding the 2020 pandemic.
Furthermore, 43% of builders cut prices this month, the highest proportion of any month from 2020 to 2026.
The affordability crisis is putting further pressure on homebuilder sentiment.