The NAHB/Wells Fargo Housing Market Index in the US remained steady at 46 in December 2024, matching November's figure but falling slightly short of the forecasted 47.
US homebuilder sentiment holds steady
Elevated home prices and mortgage rates continued to weigh on the market, despite optimism about potential regulatory improvements in 2025.
The index for current sales conditions held at 48, while the measure of prospective buyer traffic dipped by one point to 31. However, future sales expectations rose to 66, marking the highest level since April 2022, as builders anticipate regulatory relief following the recent election, according to NAHB Chairman Carl Harris.
Further figures
In December, 31% of builders reduced home prices, consistent with November, with the average price cut holding at 5%. Additionally, 60% of builders used sales incentives, unchanged from the prior month.
