Homebuilder sentiment drops in December to the lowest point in more than 3 years

Diana Olick | @DianaOlick

Published 10:00 AM ET Mon, 17 Dec 2018  Updated 2:13 PM ET Mon, 17 Dec 2018

• According to the National Association of Home Builders/Wells Fargo Housing Market Index, homebuilder sentiment declined 4 points in December to 56, the lowest point since May 2015.
• The index has plummeted nearly 20 points over the past year while potential buyers hesitate to purchase new homes even as mortgage rates have pulled back in recent weeks.
• "This housing slowdown is an early indicator of economic softening, and it is important that builders manage supply-side costs to keep home prices competitive for buyers at different price points," says NAHB Chief Economist Robert Dietz.

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