NAHB: Home Builder Confidence in Housing Markets Slips in December
December’s National Association of Home Builders Housing Market Index reported slipping builder confidence in U.S. housing markets. The Housing Market Index readings fell every month in 2022. Recently rising mortgage rates, materials costs, and inclement winter weather contributed to builder skepticism about current housing market conditions. December’s National Housing Market Index reading of 31 was the lowest since mid-2012 not including readings published during the pandemic. By comparison, the Housing Market Index reading for December 2021 was 84. The three indices comprising the Housing Market Index reported mixed readings in December. Current home sales decreased by three points and home…