Homebuilder Confidence Rises for Third Consecutive Month Even as Supply-Side Challenges Persist

Homebuilder Confidence Rises for Third Consecutive Month Even as Supply-Side Challenges Persist
Residential homes are shown under construction in Valley Center, Calif., on June 3, 2021. Mike Blake/Reuters
Tom Ozimek
Updated:

Homebuilder confidence rose for the third consecutive month in November, beating forecasts despite the persistence of supply-side challenges like shortages of construction materials, lots, and labor.

Sentiment among single-family homebuilders moved up by three points to a reading of 83 in November, according to the NAHB/Wells Fargo Housing Market Index (HMI), marking the third month in row of rising builder confidence and exceeding consensus forecasts for a reading of 80.
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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