Tracking Trends

The May HomeSphere/BTIG Home Builder Survey showed sales stabilizing, but buyer traffic weakened to its lowest level since November 2023 as higher rates, inflation, and softer consumer sentiment continued to weigh on demand.

As the housing market entered the heart of the spring selling season, April builder survey results painted a cautious picture for new home sales activity in the latest HomeSphere/BTIG State of the Industry Report

According to the latest HomeSphere/BTIG State of the Industry report, builder momentum slowed in March as rising rates, declining traffic, and increased incentives pointed to a more cautious start to the spring selling season.

From the latest HomeSphere/BTIG Industry report – homebuyer interest is climbing as spring approaches, but sales growth is tempered by affordability challenges and the ongoing need for incentives.

The January 2026 HomeSphere/BTIG State of the Industry Survey, based on small- and mid-sized builders nationwide, shows a meaningful improvement in demand trends compared to December.

Builders reported weaker sales and traffic trends in December compared with November, while pricing and incentives remained largely unchanged.

Builder Sentiment Pulls Back in November

May brought improved sentiment and performance for builders, with momentum building as we head into the summer months.

BTIG’s April State of the Industry report highlights mixed builder sentiment, with steady sales trends but rising concerns around buyer traffic, incentives, and the impact of newly implemented tariffs.

In BTIG’s State of the Industry report, released ahead of the Liberation Day tariff announcement, builder sentiment showed modest improvement with mixed signals across sales, traffic, and pricing trends.