Builder Confidence Rebounds to a Reading of 84 in February

The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) reports that builder confidence in the market for newly built single-family homes rebounded 1-point in February, after two consecutive months of declines, to a reading of 84. Demand conditions remain solid due to low mortgage rates, demographics, and the suburban shift to lower cost markets. The NAHB, however, is predicting that there will be some cooling in the HMI as the year progresses, due to regulatory risk and ongoing supply chain issues.