Builder confidence increased one point to a level of 76 in September, the National Association of Home Builders reported. The confidence level has been “cooling” since hitting its all-time-high of 90 in November 2020, according to NAHB.
"The September data show stability as some building material cost challenges ease, particularly for softwood lumber,” NAHB Chairman Chuck Fowke stated. "However, delivery times remain extended and the chronic construction labor shortage is expected to persist as the overall labor market recovers."
Builder confidence levels above 50 are considered positive.
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