Homebuilder sentiment improves in October as lumber prices fall
October 16, 2018 at 10:00 AM EDT
A monthly reading of homebuilder sentiment rose one point in October. Builders cite the drop in lumber prices as well as strong demand for housing as the driver of the gain. Builders continue to be faced with higher costs for land and labor. There is a severe labor shortage in the construction industry, especially for the highly skilled trades.