Homebuilder confidence in the U.S. fell to a four-month low in January as builders expressed concerns about higher house prices, COVID-related supply chain issues and construction costs.

Builder confidence in single-family homes dropped to 83 in January from 86 in December, according to the National Association of Home Builders and Wells Fargo Housing Market Index. It’s the second straight monthly decline in sentiment.

Rising material costs, in particular lumber, pushed sentiment down. A resurgence of coronavirus cases also contributed to the weakening number. But builder sentiment overall remains strong, per NAHB officials.

“Despite robust housing demand and low details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com