03/23/2022
Here’s the latest on some of the key challenges homebuilders are experiencing today and how they could impact your plans to move up. When you know what’s happening in the industry, you can make an informed decision on whether to look for a newly built or an existing home in your home search.
>>Supply Chain Issues
The first hurdle builders are dealing with is the lack of supply of various building materials. According to a recent article from HousingWire, “. . . Nearly everything needed in the homebuilding process is facing some sort of delay and subsequent price increase.”
>>Skilled Labor Shortage
But that’s not the only challenge with new home construction today. Builders are also having a hard time finding skilled labor, which means they’re short-handed, further dragging out their timelines. But there is good news. The February jobs report shows employment gains in the construction industry.
>>How This Impacts You
When you weigh your options and try to decide between building a home or buying an existing one, factor the potential delay in new home construction into your decision. While it doesn’t mean you should cross newly built homes off your list, it does mean you should consider your timeline and if you’re willing to wait while your home is being constructed. To make sure you have all the information you need, DM me. Together we can make sure you know what’s happening in our local market so you can confidently decide what’s right for you, your priorities, and your timeline.
If you’re ready to move up, you may be trying to decide whether you want to buy a home that's already on the market or build a new one. And since the supply of homes available for sale today is low, you’re willing to consider either avenue. While home builders are doing everything they can to co...
