From CNBC:

U.S. homebuilders are feeling more confident, with sentiment rising to 51 in March, the highest level since last summer. Mortgage rates remain high at around 7%, impacting buyer demand. Builders face challenges like a shortage of buildable lots and skilled labor. Price cutting is decreasing as builders expect future rate cuts.

Homebuilder sentiment moved into positive territory for the first time since July, hitting 51 in March. The Midwest and West saw the biggest increase in sentiment levels. Builders continue to face supply-side challenges like a scarcity of lots and skilled labor, along with rising material prices, particularly for lumber.

NAHB Chairman Carl Harris expects more consumers to enter the market with falling mortgage rates. The average price cut for homes remains around 6%, with fewer builders lowering prices in March. Builders are using sales incentives like buying down mortgage rates. Rising material prices are a concern as home building activity picks up.



Read more at CNBC: Homebuilder sentiment turns positive for the first time since July