US homebuilder sentiment hits six-month high in October

(Sharecast News) - US homebuilder sentiment rose in October, with the National Association of Home Builders/Wells Fargo housing market index climbing to 37 from 32 in the prior two months, marking a six-month high and beating forecasts of 33. Current sales conditions improved to 38, while sales expectations over the next six months jumped nine points to 54. The gauge for prospective buyer traffic also rose, up four points to 25.

Despite the uptick, pricing pressures remained evident, with the survey showing 38% of builders had cut prices in October, with the average reduction rising to 6% - the highest since October 2024.



Reporting by Iain Gilbert at Sharecast.com