Confidence among U.S. homebuilders fell in February to a four-month low amidst persistent delays to projects, rising construction costs, and building material production bottlenecks, according to a trade association, indicating a near-term gloomy outlook for the industry. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) declined by one point to 82 in February—the second straight month that the index has fallen. In January, HMI fell by one point to 83 following four consecutive months of increases. “Production disruptions are so severe that many builders are waiting months to receive cabinets, garage doors, countertops, and appliances,” NAHB Chairman Jerry Konter said in a Feb. 16 blog post. “These delivery delays are raising construction costs and pricing prospective buyers out of the market. Policymakers must make it a priority to address supply chain issues that are harming housing affordability.” The CCP (Chinese Communist Party) virus outbreak has disrupted international logistics, …