Economics
US Homebuilder Sentiment Falls for a Ninth Month in Record Slide
- Sales expectations worsened in September amid higher mortgages
- Over half of builders reported using incentives to boost sales
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A gauge of US homebuilder sentiment declined for a ninth straight month in September as mortgage rates continued to climb, further accelerating the housing-market cool-down.
The National Association of Home Buyers/Wells Fargo gauge decreased by three points to 46, figures showed Monday. Homebuilder sentiment has fallen every month this year, the longest stretch of declines in data back to 1985.