Home Builder

CNBC: Homebuilder Confidence Drops in April After Record Reading in March

A new survey from the National Association of Home Builders shows that regulatory costs and ongoing increases in building material prices are impacting the industry.

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Confidence among home builders fell in April, but they’re still optimistic headed into the spring months.

A new survey from the National Association of Home Builders cited by CNBC shows that its housing market index dropped three points to 68 in April. The decrease comes after the index reached 71 in March, which was its strongest reading since June of 2005. Industry professionals believe the drop is due to challenges like regulatory costs and ongoing increases in building material prices. However, because there is continued demand for new construction, home builders are still optimistic about business in the upcoming months.

In a statement, NAHB Chairman Granger MacDonald said, “Even with this month’s modest drop, builder confidence is on very firm ground, and builders are reporting strong interest among potential home buyers.”

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