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 Wednesday showed the ticker move one point higher to 84, tying in with February’s rate. This is the fourth consecutive month of increase since 75 in August. However, there are persistent issues affecting the supply chain and the ability of builders to deliver properties. “While demand remains strong, finding workers, predicting pricing, and dealing with material delays remains a challenge,” said NAHB Chairman Chuck Fowke in a statement. “Policymakers need to work on supply chain improvements and controlling costly inflation. Addressing lumber tariffs would be a good place to start.” The number of single-family permits …