US Builder Confidence Posts Mid-Q2 Gain

Builder confidence ↑3 points from Early-Q2 to 37 in Mid-Q2, topping forecast 34, while still below the 50 favorable threshold for new homes.
Current sales ↑3 points to 40; expected sales over next 6 mo ↑3 to 45; prospective buyer traffic ↑3 to 25 nationally.
Regional Builder Confidence
Northeast: ↑5 to 44
Midwest: ↑6 to 45
South: ↑2 to 36
West: ↑1 to 27
Home builders pointed to higher long-term interest rates, gas prices, and economic uncertainty as pressure points, even as Midwest markets showed relative strength.
Policy efforts to modify federal housing legislation could increase national supply and ease builder concerns, offering a constructive path amid affordability challenges.