U.S. September NAHB Homebuilders Index - 12 month low as mortgage rates rise
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September’s NAHB homebuilders index at 32 has more than fully erased an unexpected August rise to 35 from 34 and is now at its weakest level since a matching September 2025.
Rising mortgage rates are likely to be behind the decline.
The NAHB detail shows prospective buyers stable at 23 but current sales and 6-month expectations both significantly lower. Current sales are at a 12 month low but 6-month expectations are at their lowest since November 2022.