Lumber prices hit an all-time low after homebuilder sentiment tumbled for the twelfth straight month in December. The building commodity peaked at $1,336 per thousand board feet in late February, but has settled to around $379, as of Dec. 22, to its lowest level since the pandemic in June 2020. The price of lumber is down…

Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month. Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers. The National Association of Home Builders (NAHB) reported on Oct. 19 that its monthly…

Home construction companies continue to be stuck in a deep rut, as confidence in the market falls once again this month. Rising mortgage rates and building material shortages have made new housing less affordable for most of the year, pushing away first-time buyers. The National Association of Home Builders (NAHB) reported on Oct. 19 that its monthly…

Homebuilder confidence inched toward the highest reading of the year despite product shortages and a 39-year-high inflation rate that has prompted the Fed to halt aggressive pandemic-era stimulus programs and increase interest rates. Strong consumer demand for housing, combined with limited existing inventory, buoyed homebuilder confidence as the NAHB/Wells Fargo Housing Market Index (HMI) released…