Potential buyers flooded into model homes across the nation, and that has builders feeling better about their business than at any time over the past 20 years.
But rising lumber prices could sap the market’s momentum this fall.
Builder confidence in the newly built, single-family home market jumped 6 points to 78 in August on the National Association of Home Builders/Wells Fargo Housing Market Index. Anything above 50 is considered positive sentiment.
The index is now at the highest level in the 35-year history of the monthly series and matches the record set in December 1998. Builder sentiment plunged to 30 in April, when the coronavirus pandemic shut down the U.S. economy, but it…