NAHB

Another sign that supply chain issues, inflation, and omicron are further disrupting the economy.

“Higher construction costs and supply shortages along with rising home prices pushed builder confidence to its lowest reading since July 2020,” the NAHB said.

Homebuilder confidence set a record high for the third consecutive month.

Home builders remain solidly confident but express worries that prices of labor and materials could be pushing up their costs.

While lumber prices are up sharply this year, there is little evidence connecting the tariffs to the rise. Instead, the major factor appears to be increasing demand for new homes.