US builder confidence falls to 32 as price cuts spread
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Builders are becoming more pessimistic.
The NAHB/Wells Fargo Housing Market Index fell three points to 32 in September, its lowest level since September 2025. A reading below 50 means more builders view conditions as poor than good.
Price cuts spread. The survey found 38 percent of builders reduced prices, up from 35 percent in August, while 66 percent used sales incentives. The average reduction held at 6 percent for a sixth month.
The current-sales measure fell four points to 35. Expected sales dropped six points to 37, while prospective-buyer traffic held at 23.
