Iran War Impact on Homebuilders: Rising Costs and Mortgage Rates
The war with Iran has negatively impacted U.S. homebuilders by increasing mortgage rates and construction costs, particularly due to rising oil prices. Homebuilder sentiment dropped sharply in April, according to the National Association of Home Builders, with 62% of builders reporting higher material costs and 70% facing challenges in pricing homes due to uncertainty.
Topics: construction costs homebuilder sentiment mortgage rates oil prices real estate market