Home builder confidence just dropped for the first time in 2023 as spike in mortgage rates further dents affordability

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Home builders constructing a home.
Builder confidence in the market for newly built single-family homes rose four points to 35 in January, according to the National Association of Homebuilders.

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Price discounts for new homes are drying up as demand rebounds, homebuilders say

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A worker makes repairs to a home under construction in Newark, California.
A worker makes repairs to a home under construction at the Lennar Bridgeway development in Newark, California.

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