Housing Market Index Falls to 29, a 14-Year Low, as Builders Cut Prices

Key Takeaways The NAHB/Wells Fargo Housing Market Index fell three points to 29 in October, the lowest reading since June 2012, versus a 31 consensus and a 32 prior. Buyer traffic dropped five points to 18, the weakest since April 2012 excluding the onset of the pandemic, as the 30-year rate held at 7.40 percent. A record 43 percent of builders cut prices in October, the largest share of the 2020 to 2026 period, with the average cut steady at 6 percent. On a 20 percent down payment, the payment on the median-price home runs about $2,312 a month at 7.40 percent, roughly $277 more than a year ago. Builder confidence has now lost 8 points year over year, from 37 in October 2025, under the weigh…