Private Homebuilder Survey – April 2026 Sales Decline -20.1% MoM

Research evidence excerpt

Private Homebuilder Survey – April 2026 Sales Decline -20.1% MoM

Homebuilders & Building Products

May 13, 2026

Private Homebuilder Survey – April 2026 Sales Decline

-20.1% MoM

The Wolfe Byte

Our Private Builder April Orders decreased -20.1% MoM, outperforming April Trevor Allinson, CFA

2025’s Liberation Day -23.5% MoM decline, but underperforming our survey’s tallinson@wolferesearch.com (636) 338-1466

-14% historical MoM decline. Positively, incentives moved lower MoM to start 2Q. View Trevor’s Research

View Comp Table

Employing our rolodex of Private homebuilders, our survey is predicated on four Paul Przybylski

pprzybylski@wolferesearch.com

quantitative questions each month including Net Orders, Community Count, Pricing, (636) 338-1465

and GM/Costs, as well as multiple open-ended questions. We highlight that the Nicole Victory

Wolfe Survey is based on absolute metrics and is absent “sentiment” indicators found nvictory@wolferesearch.com

in multiple other surveys. Our healthy sample size closely tracks revised national New 636-338-1467

Nome Sales metrics and Public Builder Orders (74% correlation since 1Q19 on YoY

% change basis). See the aggregated takeaways below from the April ’26 Survey

Results. See page 2 for aggregated responses to our open-ended questions.

Net New Orders

Our Private Builder April Orders declined -20.1% MoM, trailing our survey’s historical

-14% sequential decline. April Orders were softer than we anticipated, particularly

considering positive April demand commentary from the public homebuilders on

1Q conference calls, although we note our March survey indicating solid demand

proved consistent with public builder reported demand. We remind investors our

survey outperformed in March, increasing +28.1% compared to a +19.0% normalized

increase.