The NAHB/Wells Fargo Housing Market Index in the US edged up to 38 in November 2025, the highest in seven months, from 37 in October, compared to forecasts of 37. Current sales conditions increased two points to 41 and traffic of prospective buyers posted a one-point gain to 26. On the other hand, sales expectations in the next six months fell three points to 51. In a further sign of ongoing challenges for the housing market, 41% of builders reported cutting prices in November, a record high in the post-Covid period and the first time this measure has passed 40%. The average price reduction was 6%, the same rate as in October. The use of sales incentives was 65%, tying the share in September and October.