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Homebuilder sentiment bounces back despite ongoing supply chain problems - CNBC

Homebuilder sentiment bounces back despite ongoing supply chain problems - CNBC

Homebuilder sentiment bounces back despite ongoing supply chain problems - CNBC
Oct 18, 2021 39 secs

The nation's homebuilders aren't seeing any relief from supply chain issues that have slowed construction recently, but high buyer demand appears to be making up for it.

Builder confidence in the single-family home construction market rose 4 points to 80 in October on the National Association of Home Builders/Wells Fargo Housing Market Index.

"Although demand and home sales remain strong, builders continue to grapple with ongoing supply chain disruptions and labor shortages that are delaying completion times and putting upward pressure on building material and home prices," said NAHB Chairman Chuck Fowke, a homebuilder from Tampa, Florida, in a release.

Some builders have actually slowed home sales due to construction hurdles, as they are concerned they won't be able to deliver houses at a normal pace.

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