The NAHB/Wells Fargo HMI fell to 34 in July 2026, its 27th straight month below 50, as 37% of builders cut prices amid high mortgage rates and affordability

Mortgage rates are high, home prices at record levels and consumers stressed. These are all contributing to a drop in existing home sales and builder sentiment.

The NAHB/Wells Fargo HMI fell to 34 in July 2026, its 27th straight month below 50, as 37% of builders cut prices amid high mortgage rates and affordability