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Homebuilder sentiment improves on late spring surge in demand
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- Higher mortgage rates, rising gas prices and continued economic uncertainty over the war with Iran are all still weighing on potential homebuyers.
- After a sharp drop in April, homebuilder sentiment in the market for single-family homes rose 3 points in May to a readout of 37 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index.
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Higher mortgage rates, rising gas prices and continued economic uncertainty over the war with Iran are all still weighing on potential homebuyers. Builders, however, are feeling slightly better about their businesses, seeing a potential late spring surge.
After a sharp drop in April, homebuilder sentiment in the market for single-family homes rose 3 points in May to a readout of 37 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index.
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