US homebuilder sentiment drops to a decade low (2 min read)
The US home builder sentiment index has fallen for eleven straight months in October and reached the lowest level since June 2012. The three components of the index, current sales, sales expectation, and buyer traffic, have all continued to slide. Mortgage rates that are more than twice as high as the start of this year have significantly impacted demand for new homes. Homebuilders are increasingly adding various incentives to attract buyers.