Homebuilder confidence inched up in September after falling to its lowest reading in 13 months in August, although optimism was capped by hiring difficulties and building material supply chain issues, according to the NAHB/Wells Fargo Housing Market Index (HMI). Sentiment among single-family homebuilders edged up by one point to a reading of 76 in September, according to the HMI measure. In April 2020, builder sentiment plunged to 30 in April 2020, when pandemic lockdowns sent the economy into a tailspin. It then surged to a record high in November 2020 on the back of the economic rebound, before seeing a gradual decline. “Builder sentiment has been gradually cooling since the HMI hit an all-time high reading of 90 last November,” NAHB Chairman Chuck Fowke said in a statement. “The September data show stability as some building material cost challenges ease, particularly for softwood lumber. However, delivery times remain extended and the …
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