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MarketMinute | How are builders feeling about the market?

Aug 19
8:41
AM
Category | Markets in a Minute

  • Last month’s Fed meeting minutes showed officials agreed on the need to eventually dial back the pace of policy interest rate hikes.
  • Consumer sentiment rose to a 3-month high in early August, indicating stronger expectations about the economy and personal finances.
  • Retail sales for July were flat compared with an anticipated 0.1% gain. Falling fuel prices helped drive retail spending.

  • Builder sentiment for the single-family homes market fell into negative territory in August, as builders and buyers struggle with higher costs.
  • Housing starts fell in July to the lowest level since early 2021. Construction of both single- and multi-family homes dropped by 10%.
  • Existing home sales fell nearly 6% in July compared with June and were down almost 20% year over year, hampered by tight supply.