Homebuilder Sentiment Falls to Low Levels as Buyer Traffic Evaporates

Homebuilder sentiment in newly built single-family homes dropped in November as prospective buyers shied away from making a purchase due to high costs, according to the National Association of Home Builders (NAHB).The NAHB/Wells Fargo Housing Market Index (HMI), which measures homebuilder sentiment, declined five points, to 33, and registered the 11th consecutive monthly decline, as a press release stated on Nov. 16. Th …