Homebuilders

President Donald Trump will sign an executive order on Thursday imposing new tariff rates on trading partners that take effect Friday, the White House said. 

Horton shares surged as much as 14% after the company released results for the fiscal third quarter, the biggest intraday gain since April 2020.

New residential construction increased 4.6% to an annualized rate of 1.32 million homes last month, picking up after an almost 10% slide in May, according to government figures released Friday.

Despite upticks in new-home mortgage applications and homebuilder sentiment, analysts worry that interest rates will continue to cool the market.

New limits for forward commitments add to indications the secondary mortgage market is watching builder partnerships with home lenders closely.

A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.

Median home prices rose by 1% to a record high, but sellers are taking lower offers as the market shifts towards the buyers' favor.

Confidence among US homebuilders fell to the lowest level since December 2022 in June, with potential buyers deterred by high mortgage rates and anxiety about tariffs and the economy. 

Housing permits fell for the fourth consecutive month as builders pull back on construction amid high costs and uncertain demand.

Steady construction and weaker demand caused the first seasonally-adjusted dip in home values since 2022, signaling a move into a buyer's market.