Homebuilder Sentiment Drops As Prices Rise

(Washington, DC) — Builder confidence is hitting a 13-month low as home prices soar along with the cost of construction materials. The National Association of Homebuilders says builder sentiment fell five points in August. It noted buyer interest remains high, but “sticker shock” is keeping some Americans out of the market. The NAHB says the price of construction materials rose 13-percent in the first six months of 2021. Still, the group expects the market to return to more normal conditions in the coming months.