Real Estate

Homebuilder confidence drops for the first time in four months

0


Workers install roofing on an apartment complex under construction in Lehi, Utah, on Friday, Jan. 7, 2022.

George Frey | Bloomberg | Getty Images

Builders in the single-family housing market are facing growing expenses, which is causing a turnaround in sentiment to start the year.

Builder confidence fell one point to 83 in January, according to the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Anything above 50 is considered positive, but that is the first drop in four months. The index also stood at 83 in January 2021.

“Higher material costs and lack of availability are adding weeks to typical single-family construction times,” said NAHB Chairman Chuck…



Source cnbc.com

0 0 votes
Article Rating

Oil is at a 7-year high, but Exxon CEO Darren Woods sees lower trend

Previous article

Geothermal energy could transform the way lithium is sourced

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate