US Homebuilder Sentiment Continues to Improve

The NAHB/Wells Fargo Housing Market index in the US increased for a fourth month to 45 in April of 2023, a fresh high since September of 2022 and beating market forecasts of 44.

The gauge for current sales conditions rose to 51 from 49, sales expectations in the next six months increased to 50 from 47, and traffic of prospective buyers was unchanged at 31. "Builders note that additional declines in mortgage rates, to below 6%, will price-in further demand for housing.

Nonetheless, the industry continues to be plagued by building material issues, including lack of access to electrical transformer equipment", NAHB Chairman Alicia Huey said.