Affordability Concerns Continue to Pressure Builder Sentiment, NAHB Says

The agency said demand for new construction has weakened, but remodeling remained strong due to low household mobility.

Construction workers work on the roof of a house being built in Alhambra, Calif., on Sept. 23, 2024. Frederic J. Brown/AFP via Getty Images

Housing affordability continues to pressure homebuyers and builders, with homebuilder confidence dropping for the second consecutive month to open the new year.

Builder confidence for erecting new single-family stick-built homes dipped by one point to 36 in February, the National Association of Home Builders (NAHB) and Wells Fargo said in their latest Housing Market Index report released on Feb. 17.