Homebuilder Confidence Edges Up After Recent Plunge to 13-Month Low

Homebuilder Confidence Edges Up After Recent Plunge to 13-Month Low
New construction moves forward in the Portola Springs neighborhood of Irvine, Calif., on Feb. 16, 2021. John Fredricks/The Epoch Times
Tom Ozimek
Updated:

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.
Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
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