November 17, 2021
Real Estate

Despite Supply Chain Issues at U.S. Ports, Strong Housing Demand Drives Builder Confidence

According to the latest National Association of Home Builders / Wells Fargo Housing Market Index, strong consumer demand helped push builder confidence higher despite growing affordability challenges stemming from rising material prices and shortages. Builder sentiment in the market for newly built single-family homes moved four points higher to 80 in October 2021.

“Although demand and home sales remain strong, builders continue to grapple with ongoing supply chain disruptions and labor shortages that are delaying completion times and putting upward pressure on building material and home prices,” said NAHB Chairman Chuck Fowke.

“Builders are getting increasingly concerned about affordability hurdles ahead for most buyers,” said NAHB Chief Economist Robert Dietz. “Building material price increases and bottlenecks persist and interest…

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