NEW YORK — Homebuilder confidence slid for the fourth consecutive month with steadily rising mortgage rates and sky-high home prices putting ownership out of reach for more Americans.

U.S. home prices climbed a robust 6.2 percent from a year ago, amid strong demand from would-be buyers and a shrinking supply of properties for sale.

Sentiment among American homebuilders deteriorated to an eight-month low in July on concerns about higher material costs, according to July 18 data from the National Association of Home Builders/Wells Fargo.

Beginning construction of U.S. houses climbed to a four-month high in February, led by the strongest pace of single-family homebuilding in nearly a decade.