U.S. home builder sentiment plunges, services activity in New York region stalls

Published by
Reuters

By Dan Burns (Reuters) – U.S. home builder sentiment plummeted in July to its lowest level since the early months of the coronavirus pandemic, as high inflation and the steepest borrowing costs in more than a decade brought customer traffic to a near standstill. At the same time, a gauge of activity in the services sector activity in the U.S. Northeast turned negative this month for the first time in a year, and firms there do not see an improvement over the next six months. The National Association of Home Builders/Wells Fargo Housing Market Index fell for a seventh straight month to 55, the …

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