Homebuilder confidence jumped into positive territory in March for the first time since July, as the persistent shortage of existing homes pushes more buyers to new construction.

Contracts for home sales dropped another 1.2% in March, marking the fifth straight month of declines amid rising interest rates and soaring prices.

Homebuilder confidence dropped for the fourth month in a row in April as sales traffic declined despite low inventory.

Contract signings for home sales fell in January with inventory at a record low.

Home prices rose 18.8% in 2021, marking the highest annual jump on record.

Luxury home builder Toll Brothers has broken its third quarter record for new contracts.