US Home-Builder Confidence Hits 14-Year Low as Labor Shortages Delay Construction

Key Facts

The NAHB/Wells Fargo Housing Market Index dropped to 29 in October, marking its lowest reading since June 2012. More than one-third of homebuilders reported that immigration enforcement activity caused labor shortages and construction delays, while the prospective buyer traffic index fell to 18, the lowest level since April 2012 excluding the pandemic period.

Wells Fargo (WFC) closed at $83.87 on October 16, 2026, as mortgage rates reached 7.5%. On the same date, Bank of America (BAC) closed at $51.23 and JPMorgan Chase (JPM) finished at $339.72, with the Wall Street Journal reporting that 43% of builders cut home prices during the month.

US Housing Starts and Building Permits data are scheduled for release on October 20, 2026. Market participants are also awaiting Pending Home Sales figures from the National Association of Home Builders on the same day.