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Series of events · Housing
Homebuilder confidence hits multiyear low before new executive order
US homebuilder sentiment fell to its lowest level since 2012, followed by a presidential executive order targeting housing costs.
Updated
The flow in 3 points
- Homebuilder index fell to 29, the lowest since 2012
- Mortgage rates topped 7 percent during the period
- Real home values fell for the 15th straight month
What happened, in order
Times are Eastern-
Where it began
Confidence index falls
The National Association of Home Builders index dropped to 29 in October, down from 32 in September and below the forecast of 31.
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Mortgage rates top 7%
Builder optimism sank to 29 as mortgage rates topped 7 percent, while the 10-year Treasury yield climbed to 5.147 percent.
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Turning point
Executive order signed
President Trump signed an executive order aimed at reducing housing costs, though the White House provided no further details.
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Latest
Prices rise 2.1%
National home prices increased 2.1 percent annually in August, but values continued to fall in real terms for the 15th straight month.
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How they connect
Homebuilder confidence fell to a multiyear low in October, followed by the signing of an executive order targeting housing costs. Subsequent data showed home prices rising nominally but falling in real terms.
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