Homebuilder Sentiment Slumps To 2024 Low, Homebuyer Sentiment At Record Low
https://www.zerohedge.com/personal-finance/homebuilder-sentiment-slumps-2024-low-homebuyer-sentiment-record-lowEvery time we discuss homebuilder sentiment we can't help but be reminded of Upton Sinclair's infamous quote:
"It is difficult to get a man to understand something when his salary depends upon his not understanding it."
But maybe the truth is too hard to ignore now?
NAHB homebuilder sentiment slumped in August to 39 (well below expectations of a rise from prior 41 to 43 - and below the lowest estimate), back near COVID-Lockdown lows...
Source: Bloomberg
The data indicate downbeat views on present conditions, but (of course, remember Sinclair's quote above) a more optimistic take on the outlook.
Measures of prospective-buyer traffic and of present sales both fell to new low points for 2024, while a gauge of sales expectations for the next six months climbed 1 point to 49.
Homebuilder Sentiment has dropped to levels on par with the COVID lockdowns of 2020.
