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Rapidly rising interest rates combined with ongoing home price increases and higher construction costs continue to take a toll on builder confidence and housing affordability.
Noel has three decades of experience in the home construction industry. His company has created more than 1,000 custom homes in the New Orleans area, NAHB officials said.
Republican leaders unveiled its final bill Friday, the result of negotiations between House and Senate leadership. It cuts the corporate tax rate from 35 percent to 21 percent.
Increasing home prices could not be offset by a quarter-point drop in mortgage interest rates, which caused the association’s Housing Opportunity Index to decline two points.
Builders generally remain confident in the single-family home market, according to the most recent survey from Wells Fargo and the National Association of Home Builders.