US homebuilder confidence rises to 37 in May, still below break-even

The NAHB/Wells Fargo Housing Market Index increased by 3 points to 37 in May, marking the 25th consecutive month below the 50-point threshold that separates positive from negative sentiment. Despite the slight uptick, builder confidence remains in negative territory, reflecting ongoing challenges in the housing market such as high interest rates and supply constraints. The index has not reached 50 since early 2022.