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Builder Confidence: Tariffs on Lumber Hurting Affordability; Tons of Tappable Equity

Builder Confidence: Tariffs on Lumber Hurting Affordability; Tons of Tappable Equity

Builder confidence in the market for new single-family homes ended a three-month slide in May , as the Housing Market Index ticked up two points. This month that two-point gain evaporated as the index slid back down to 68. The National Association of Home Builders (NAHB) said the retreat of the measure, which it sponsors in conjunction with Wells Fargo, in June was, in large part, due to elevated lumber prices. "Builders are optimistic about housing market conditions as consumer demand continues to grow," said NAHB Chairman Randy Noel. "However, builders are increasingly concerned that tariffs placed on Canadian lumber and other imported products are hurting housing affordability . Record-high lumber prices have added nearly $9,000 to the price of a new single-family home since January 2017
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