Source: Fox Business —
National Association of Home Builders CEO Jerry Howard said on Tuesday that he is “very concerned” over the new data showing a steep drop in new construction and warned that inflation is causing increased “concern” for the industry.
Howard made the comments on “Varney & Co.” on Tuesday, shortly after the release of the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) for May, which revealed that builder confidence in the market for newly-built single-family homes fell eight points to 69.
The association noted in a news release that the drop depicts the fifth straight month that builder sentiment has declined and is the lowest reading since June 2020.
