Homebuilder Sentiment Suddenly Drops Amid Affordability Issues
New homebuilder confidence dipped six points to 50 from July to August, according to the NAHB/Wells Fargo Housing Market Index (HMI). Shelter inflation jumped 7.7 percent year-over-year and makes up 90 percent of the Consumer Price Index reading of 3.2 percent. High costs are to blame, including too few construction workers and a lack of buildable lots.
