Easing mortgage rates and continued housing demand helped buoy new-home sales in January, further boosting builder confidence

A drop in mortgage rates from recent peaks nudged more homebuyers and sellers into the market, signaling the start of greater supply and demand

Data from the report show that home prices in low-income neighborhoods identified as Opportunity Zones track closely with nationwide price trends

Prospects for townhouse construction were bright during the final quarter of 2023, and long-run prospects for this housing type look positive, too

Excess supply has helped to slow rent increases in some markets, and rent growth is moderating across a wider range of markets than in previous years, but affordability concerns persist

A combination of factors is buoying home builder confidence in February, with the latest NAHB/Wells Fargo Housing Market Index at its highest level since last August