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    Analysis

    October 18, 2022

    NAHB: Builder Confidence Reaches Lowest Mark in a Decade

    Written by David Schollaert

    Builder confidence fell for the tenth straight month in October, while traffic of prospective buyers fell to its lowest level since 2012 (excluding the two-month period at the onset of the pandemic), the National Association of Home Builders (NAHB) said.

    The report, in conjunction with the Wells Fargo Housing Market Index (HMI), said that rising interest rates, building material bottlenecks, and elevated home prices continue to weaken the housing market.

    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.

    Read more from David Schollaert

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