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Buyers are moving into unfinished new homes

Builders are continuing to face material shortages and now, rather than keep people waiting, they’re allowing new home buyers to move in even as the properties remain unfinished. The supply chain problems are the result of on-off factory closures due to the COVID-19 pandemic, port capacity limits and transportation delays. Due to the shortages, builders […]

New home sales declined in November amid rising prices

Sales of new homes fell by 14% in November, well below expectations, due to rising prices that analysts say are forcing many prospective buyers out of the picture. The report from the U.S. Census Bureau said that while sales fell in November, the median price of newly built homes rose by 19% from the same […]

Home builder confidence rises on unseasonably strong demand

Home builders are feeling increasingly confident as they head into the new year thanks to seasonally strong demand in what is usually a much slower time of the year. Builder sentiment in the single-family housing market rose by a single point to 84 in December, according to the National Association of Home Builders/Wells Fargo Housing […]

6 Factors To Consider Before Building A Post-Pandemic Home

Since time immemorial, architects have had to design homes according to personal styles, current trends, government regulations, and topography. With the spread of the Coronavirus (Covid-19), lifestyles and daily routines were irreversibly changed. Working from home became the norm, going to the gym was restricted, and social outings were banned. The post-pandemic architecture will have […]

A shortage of windows is causing yet more headaches for home builders

Home builders who have been struggling to obtain key building materials such as lumber and cement now face an even more urgent priority – an acute shortage of glass for windows and doors. An October survey by John Burns Real Estate Consulting found that windows are now the major supply challenge for 63% of home […]

Shortage of construction workers hits “crisis level”

Anyone looking for a career change that doesn’t have the advantage of a college degree could do a whole lot worse than retraining as a construction worker. Amid huge demand for new homes, at least 740,000 new construction workers will be needed each year for the next three years, according to a new report by […]

Watch out: Lumber prices are increasing again

New home buyers need to brace themselves for yet more price hikes, as lumber prices are on the rise again. The extra costs will likely be passed on to home buyers by homebuilders, reports say. Lumber prices fell from record highs over the summer, but that decline seems to have been short-lived. Prices bottomed-out in […]

Builders paying more for substitute materials to avoid construction delays

Home builders are struggling with shortages of materials they need to finish their projects, including wood paneling, ceiling joists and pipes. Faced with the prospect of delayed schedules, they’re racing to find substitute materials instead, but that process is adding to their costs. The Wall Street Journal reported this week that supply shortages have dogged […]

Prices of building materials have soared in the last year

Building material costs have jumped by almost 20% in the last 12 months, and by 135 in 2021 alone, according to new data from the Bureau of Labor Statistics. The prices rises are putting pressure on home builders, who in turn are raising their prices. Buyers have seen new home prices rise to a median […]

Will hemp homes solve the building material shortage?

Sky rocketing prices for building materials have been a common complaint from home builders over the past year. The costs of lumber, steel and concrete have all soared, and now some are promoting the idea of hemp as a more affordable alternative. Hemp does contain cannabis, but the concentration of THC is much, much lower […]

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