NAHB: Builder Confidence Increased to 76 in September

by Calculated Risk on 9/20/2021 10:04:00 AM

The National Association of Home Builders (NAHB) reported the housing market index (HMI) was at 76, up from 75 in August. Any number above 50 indicates that more builders view sales conditions as good than poor.

From the NAHB: Builder Confidence Steadies as Material and Labor Challenges Persist

Builder confidence inched up in September on lower lumber prices and strong housing demand, even as the housing sector continues to grapple with building material supply chain issues and labor challenges. Ending a three-month decline, builder sentiment in the market for newly built single-family homes edged up one point to 76 in September, according to the NAHB/Wells Fargo Housing Market Index (HMI) released today.

“Builder sentiment has been gradually cooling since the HMI hit an all-time high reading of 90 last November,” said NAHB Chairman Chuck Fowke. “The September data show stability as some building

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