A recent post reported on the record share of single-family builders reporting shortages of labor and subcontractors in the July survey for the NAHB/Well Fargo Housing Market Index. The same survey asked builders about the effects the shortages were having on their businesses. The most widespread effects were causing builders to pay higher wages/subcontractor bids (reported by 84 percent of builders), forcing them to raise home prices (83 percent) and making it difficult to complete projects on time (73 percent).
Full Article here: Labor and Subcontractor Costs Outpacing Inflation, Raising Home Prices
The Perks of Buying a Home in the Fall