The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

The organization issued a statement in support of the pro-development campaign at its annual meeting in Tampa. 

Homebuilder sentiment recently reached its third-lowest level since 2012. 

Merit Homes won a Gold Award — the highest honor — for Best Multifamily Housing Community, 30 to 60 Dwelling Units per Acre, for Bloom – Rose Hill in Kirkland.

The 25 residences located within The Sunset District will be priced from $1.45 million to over $3 million. Homes will range from 1,210 to 2,800 square feet.

The surprisingly large decline in the pace of housing starts comes as builder sentiment remains depressed by tariff worries and high prices. 

The pace of new-home construction was higher than economists expected, even as homebuilders expressed concern about the impact of tariffs and supply-side challenges. 

At the same time, the median sales price for a new home hit its highest level since 2022, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.   

At the same time, builder sales expectations for the next six months posted their second-largest drop since the sentiment index started in 1985. 

Construction is underway at Woodinville Square, a luxury townhome community from Toll Brothers.

The builder will construct 11 four-bedroom, 3.5-bathroom homes with two-car garages that range from 2,864 to over 3,000 square feet.

The median-sales price slid from $425,600 in October to $402,600 last month. 

Multifamily construction, meanwhile, rose on a monthly basis. 

The median price of a new home sold during the month was also up, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.