Builder Confidence Moves Higher for Fourth Straight Month
Builder sentiment in the market for newly built single-family homes moved one point higher to 84 in December.
Despite inflation concerns and ongoing production bottlenecks, builder confidence edged higher for the fourth consecutive month on strong consumer demand and limited existing inventory. Builder sentiment in the market for newly built single-family homes moved one point higher to 84 in December, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This ties the highest reading of the year, which was posted in February.
"While demand remains strong, finding workers, predicting pricing, and dealing with material delays remains a challenge," said NAHB chairman Chuck Fowke, a custom home builder from Tampa, Fla. "Policymakers need to work on supply chain improvements and controlling costly inflation. Addressing lumber tariffs would be a good place to start."