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    Analysis

    January 18, 2022

    NAHB: Builder Confidence Slips in January

    Written by David Schollaert

    Builder confidence slipped in January, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Growing inflation concerns and ongoing supply-chain disruptions snapped a four-month rise in home builder sentiment even as consumer demand remains robust. January’s HMI reading moved one point lower to a reading of 83.

    “Higher material costs and lack of availability are adding weeks to typical single-family construction times,” said Chuck Fowke, NAHB’s chairman. “NAHB analysis indicates the aggregate cost of residential construction materials has increased almost 19% since December 2021. Policymakers need to take action to fix supply chains. Obtaining a new softwood lumber agreement with Canada and reducing tariffs is an excellent place to start.”

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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