Rising Material Prices and Lot Shortages Hurt January Builder Confidence

Posted To: MND NewsWire

After setting three successive record highs, most recently a 90 level in November , the pandemic and rising construction costs are taking a toll on the Housing Market Index (HMI). The National Association of Home Builders (NAHB) said the index, which it sponsors with Wells Fargo, fell for the second straight month. A 3-point drop in the index, which measures builder confidence in the new home market, follows a 4-point decline in December. The January level now stands at 83. “Despite robust housing demand and low mortgage rates, buyers are facing a dearth of new homes on the market, which is exacerbating affordability problems,” said NAHB Chairman Chuck Fowke. “Builders are grappling with supply-side constraints related to lumber and other material costs, a lack of affordable lots and labor…(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.


Rising Material Prices and Lot Shortages Hurt January Builder Confidence
Rising Material Prices and Lot Shortages Hurt January Builder Confidence

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *