Confidence among U.S. homebuilders fell in February to a four-month low amidst persistent delays to projects, rising construction costs, and building material production bottlenecks, according to a trade association, indicating a near-term gloomy outlook for the industry.
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) declined by one point to 82 in February—the second straight month that the index has fallen. In January, HMI fell by one point to 83 following four consecutive months of increases.
