ToplineHome builder sentiment climbed in January for the first time since December 2021, according to the National Association of Home Builders, a welcome bright spot for the otherwise bleak housing market ravaged by soaring mortgage rates and a potential recession. Home builder confidence had declined every month of 2022. That’s a four-point increase from December, but still a far-cry from the 83 reading last January as the housing market deteriorated over the course of 2022. Key BackgroundThe housing market pandemic-fueled boom in 2020 and 2021 came crashing down to earth last year, with pending home sales slipping dramatically in 2022. Declining yields likely indicate an upcoming decrease in mortgage rates considering the historic inverse relationship between the two.

Source: Forbes January 19, 2023 04:52 UTC