The National Association of Home Builders (NAHB) released their NAHB/Wells Fargo Housing Market Index (HMI) report for December 2022 and, not surprisingly, it shows the builders are continuing to lose confidence in the market. Â In fact, builder sentiment has dropped every month during 2022, ending the year at an index value of 31, the lowest seen since the onslaught of COVID-19 in April 2020.
NAHB/Wells Fargo Housing Market Index (HMI) / Builder Sentiment Chart
(click on chart for live, interactive chart)