Builders Cite Higher Lumber Costs in Confidence Drop – NMP Skip to main content

Builders Cite Higher Lumber Costs in Confidence Drop

Jun 19, 2018
Ed Brady, a Bloomington, Ill.-based builder and developer who served as the 2016 Chairman of the National Association of Home Builders (NAHB), has been named President and CEO of the Home Builders Institute (HBI), the non-profit Ed Brady, a Bloomington, I

The rising cost of lumber was blamed for the two-point drop in builder confidence in the June edition of the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). This month’s HMI holds a rating level of 68.
 
All three HMI indexes dipped by one point in the new HMI report: The index measuring current sales conditions fell to 75, the component gauging expectations in the next six months slid to 76, and the metric charting buyer traffic edged down to 50. Among the three-month moving averages for regional HMI scores, the Northeast rose two points to 57, the South fell one point to 71 and the West and Midwest remained unchanged at 76 and 65, respectively.
 
“Builders are optimistic about housing market conditions as consumer demand continues to grow,” said NAHB Chairman Randy Noel, a custom home builder from LaPlace, La. “However, builders are increasingly concerned that tariffs placed on Canadian lumber and other imported products are hurting housing affordability. Record-high lumber prices have added nearly $9,000 to the price of a new single-family home since January 2017.”


 
About the author
Published
Jun 19, 2018
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026