Real Estate

Homebuilder confidence improves, despite record high lumber prices


A contractor works on the basement of a home under construction in the Toll Brothers Regency at Palisades community in Charlotte, North Carolina.

Luke Sharrett | Bloomberg | Getty Images

Buyer demand for newly built homes continues to surge, and that is keeping builder confidence high even as material prices climb.

Builder sentiment rose 1 point to 84 in February, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released Wednesday. Anything above 50 is considered positive sentiment. The index stood at 74 in February 2020.

“Lumber prices have been steadily rising this year and hit a record high in mid-February, adding thousands of dollars to…


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