Builder confidence increased four points to a level of 80 in October, the National Association of Home Builders reported.
Builder confidence levels above 50 are considered positive. NAHB attributed the uptick in confidence to a strong consumer demand but also noted continuing challenges for the industry.
"Although demand and home sales remain strong, builders continue to grapple with ongoing supply chain disruptions and labor shortages that are delaying completion times and putting upward pressure on building material and home prices," stated NAHB Chairman Chuck Fowke.
Builder confidence fluctuated over the summer due largely to supply issues in the industry. Builder confidence levels peaked in November 2020 with an all-time-high of 90.
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