Single-Family Home Builders Losing Confidence in the Future as Materials Costs Soar

The National Association of Home Builders (NAHB) released their monthly index on January 18 showing the first decline of confidence among single-family home builders in four months, with future sales expectations for the next 6 months dropping from 85 to 83. NAHB Chairman Chuck Fowke stated that analysis showed residential construction materials have increased 19% since December 2020 and “the combination of ongoing increases for building materials, worsening skilled labor shortages and higher mortgage rates point to declines for housing affordability in 2022.”

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