NAHB: Strong Demand Sustains Builder Confidence Despite Supply-Chain Issues

Strong consumer demand and low inventories helped push builder confidence higher in November for the third consecutive month despite continued supply-side challenges. Even though the construction sector continues to wade through building material bottlenecks and lot and labor shortages, builder sentiment for newly built single-family homes moved three points higher to an index reading of 83 this month, according to the National Association of Home Builders/Wells Fargo Housing Market Index.

“The solid market for home building continued in November despite ongoing supply-side challenges,” said Chuck Fowke, NAHB’s chairman. “Lack of resale inventory combined with strong consumer demand continues to boost single-family home building.”

David Schollaert

David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

David Schollaert

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