The NAHB/Wells Fargo Housing Market Index in the United States rose to 38 in November 2025, marking a seven-month high, up slightly from October's reading of 37 and surpassing expectations. Current sales conditions saw an increase, climbing two points to 41, while the traffic of prospective buyers also edged up by a point to 26. Conversely, sales expectations for the coming six months dipped by three points, settling at 51. Highlighting ongoing challenges within the housing sector, 41% of builders admitted to reducing prices in November—a post-Covid record and the first time this metric has exceeded 40%. The average price cut remained consistent with October at 6%. Meanwhile, the deployment of sales incentives stood at 65%, matching levels seen in both September and October.
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