Builder Confidence Holds Steady, Labor Shortages Persist

Builder Confidence Holds Steady, Labor Shortages Persist

Builder confidence rose slightly in July. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it sponsors with Wells Fargo, gained one point, rising to 65. This marks the sixth consecutive month that sentiment levels have held at a steady range in the low- to mid-60s. NAHB Chair Greg Ugalde said, "Builders report solid demand for single-family homes. However, they continue to grapple with labor shortages , a dearth of buildable lots and rising construction costs that are making it increasingly challenging to build homes at affordable price points relative to buyer incomes," The HMI derives from a survey that NAHB has conducted among its new home builder members for over 30 years. In that survey builders are asked to give their perceptions of current single