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U.S. home builders' confidence has increased due to a significant rise in demand at the end of spring.

MeNews
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ME News report, May 18 (UTC+8). Higher mortgage rates, steadily rising oil prices, and ongoing economic uncertainty stemming from the war with Iran continue to weigh on potential homebuyers. However, American homebuilders have seen a slight improvement in their business conditions, and they expect a surge in growth by the end of spring. After a sharp drop in April, the housing market index released by the National Association of Home Builders (NAHB) shows that in May, the builder confidence index for the single-family home market rose by 3 points to 37. Still, an index below 50 is regarded as a sign of market pessimism. NAHB Chief Economist Robert Dietz said, “The recent rise in long-term interest rates will continue to suppress homebuying demand. While some areas are showing relatively strong momentum, including parts of the Midwest, the housing market still faces serious affordability challenges.” (Source: Jin10)
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