Economy

Homebuilder confidence drops from record high

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A house under construction is seen in Culver City, a neighborhood of Los Angeles on November 21, 2020.

Chris Delmas | AFP | Getty Images

After three straight months of record highs, homebuilder confidence in the single-family housing market pulled back in December.

Builders say they are concerned that buyers are starting to experience sticker shock.

Sentiment dropped 4 points to 86 in December, according to the latest NAHB/Wells Fargo Housing Market Index. That is now the second-highest reading in the history of the index, which dates to 1985. Anything above 50 is considered positive. Last December, the index stood at 76.

“Housing demand is strong entering 2021, however the coming year will…



Source cnbc.com

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