Builder Confidence Soars to All-Time High while Lumber Risks Remain
The previous highest reading of 78 in the 35-year history of the series was set in December 1998 and matched last month.
Builder confidence in the market for newly built single-family homes increased five points to hit an all-time high of 83 in September, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). The previous highest reading of 78 in the 35-year history of the series was set in December 1998 and matched last month.
“Historic traffic numbers have builders seeing positive market conditions, but many in the industry are worried about rising costs and delays for building materials, especially lumber,” said Chuck Fowke, NAHB chairman and a custom home builder from Tampa, Fla. “More domestic lumber production or tariff relief is needed to avoid a slowdown in the market in the coming months.”