U.S. homebuilders are intentionally limiting sales due to widespread labor shortages and supply-chain issues. That’s concerning for the construction industry, particularly as the government prepares for a wave of infrastructure spending.
D.R. Horton Inc., which carries the biggest weighting in the S&P Supercomposite Homebuilding Index, earlier reported weaker-than-expected orders as materials and labor scarcity interfered with new home production. The company and fellow builder PulteGroup Inc., which has also been grappling with supply-chain problems, are both restricting sales.