Builder confidence rose a single point in August to a level of 66 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index. Market confidence levels among builders have remained in the mid-60s on the index for the past four months.
“Although affordability headwinds remain a challenge, demand is good and growing at lower price points and for smaller homes,” NAHB Chief Economist Robert Dietz stated.
Issues such as increased regulations and labor shortages are adding to uncertainty in the industry, according to NAHB.
Levels above 50 on the Housing Market Index generally indicate favorable views of the market among home builders, according to NAHB.
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