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The NAHB/Wells Fargo Housing Market Index in the United States nudged up to 39 in December 2025, marking its highest level in eight months, from 38 in November. This rise surpassed analysts' projections, which anticipated stability at 38. Despite this increment, the index has persistently remained below the 50 mark for the 20th consecutive month. This indicates ongoing challenges for builders, who are dealing with increased construction costs, economic and tariff uncertainties, and subdued buyer interest due to affordability concerns. The measure of current sales conditions increased by one point, reaching 42, while the index for future sales advanced by one point to 52. Meanwhile, the indicator for potential buyer traffic remained constant at 26. Highlighting the persistent challenges in the housing market, the recent survey disclosed that 40% of builders reported reducing prices in December. This marks the second successive month where such a percentage has been 40% or higher since May 2020. Additionally, the deployment of sales incentives stood at 67% in December, representing the highest level recorded in the post-COVID era.
