US Builder sentiment remains muted from economic and geopolitical uncertainty, elevated mortgage rates and rising construction costs. Builder confidence in the market for newly built single-family homes inched up one point to 35 in August, according to the NAHB/Wells Fargo Housing Market Index (HMI). August marked the 16th straight month… with the HMI below 40. Custom home builders continue to report stronger market conditions than spec builders, reflecting better conditions at the higher end of the market. …Rising gas and diesel prices are pushing up material costs, and spec home building remains weak as many prospective buyers stay on the sidelines. …The index measuring current sales conditions increased two points to 39, while the indexes for future sales expectations and prospective buyer traffic held steady at 43 and 23, respectively.