U.S. homebuilder sentiment was down in December to its lowest level since 2015. The National Association of Home Builders/Wells Fargo Housing Market Index dropped to 56 from 60 based on declines in sales, expectations and buyer traffic.
“We are hearing from builders that consumer demand exists, but that customers are hesitating to make a purchase because of rising home costs,” NAHB Chairman Randy Noel, said in a statement. “However, recent declines in mortgage interest rates should help move the market forward in early 2019.”