The numbers:
“Builders are contending with shortages of building materials, buildable lots and skilled labor as well as a challenging regulatory environment,” Robert Dietz, the association’s chief economist, said in the report. Index readings over 50 are a sign of improving confidence. Last year, the index quickly dropped below 50 in April and May as the pandemic began, but confidence rebounded as many Americans opted to resume their search for a new home last summer.
Regionally, the only part of the country that didn’t see a drop in confidence was the South, where it held steady at the same level as in June. Confidence fell the most in the Northeast, where the index fell four points to 75.
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