Homebuilder confidence hit a six-month high in November as robust demand continues to persist despite supply chain issues and labor shortages, according to the National Association of Home Builders.

This marks the third consecutive month homebuilder confidence increased as the figure jumped 3 points to 83, whereas current sales rose another 3 points to 89. Prospective buyers saw a 3-point gain, jumping to 68.

“The solid market for homebuilding continued in November despite ongoing supply-side challenges,” said NAHB Chairman Chuck Fowke. “Lack of resale inventory combined with strong consumer demand continues to boost single-family homebuilding.”

There are roughly 330,000 homes remaining on the market, according to NAHB chief economist Robert Dietz.

“Lot availability is at multi-decade lows and the construction industry currently has more than 330,000 open positions. Policymakers need to focus on resolving these issues to help builders produce more housing to meet strong market demand,” Dietz said.

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