Builder Confidence Up 1 Point in January

Builder confidence in the market for newly-built single-family homes was 47 in January, up one point from December, according to the National Association of Home Builders /Wells Fargo Housing Market Index.

“Builders are facing continued challenges for housing demand in the near-term, with mortgage rates up from near 6.1% in late September to above 6.9% today,” NAHB Chairman Carl Harris said in a statement. “Land is expensive, and financing for private builders remains costly.”

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