Homebuilders’ confidence falls as they wait months for cabinets, garage doors and appliances

By Diana Olick
Roswell Track Repair Garage Door

Supply chain issues for homebuilders appear to be getting worse, and that is weighing on confidence in the industry.

Builder confidence in the single-family, newly built housing market fell 1 point in February to 82 on the National Association of Home Builders/Wells Fargo Housing Market Index. That is the second straight month of declines. Anything above 50 is considered positive. The index stood at 84 in February 2021.

“Production disruptions are so severe that many builders are waiting months to receive cabinets, garage doors, countertops and appliances,” said NAHB Chairman Jerry Konter, a builder from Savannah, Georgia. “These delivery delays are raising construction costs and pricing prospective buyers out of the market.”

Surging lumber prices are also adding thousands of dollars to the cost of new homes.

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