Homebuilder confidence improves, despite record high lumber prices
Buyer demand for newly built homes continues to surge, and that is keeping builder confidence high even as material prices climb. Builder sentiment rose 1 point to 84 in February, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released Wednesday. "Builders remain very focused on regulatory and other policy issues that could price out households seeking new homes in a tight market this year." Of the index's three components, current sales conditions held steady at 90, and traffic of prospective buyers rose 4 points to 72. In the South it dropped 2 points to 84 and in the West decreased 2 points to 93.
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