Inflation causing delays in home building
COLUMBUS, Ga. (WTVM) -The economic downturn is impacting what you pay for many things, including how homes are built.
Rising costs and shortages of building materials and labor are rippling across the home building industry.
Construction delays are expected, prompting many builders to pump the brakes on the number of new homes they put up for sale.
As building a new home gets more expensive, some of those costs are passed to buyers.
“What we do is we are increase our communication with our homebuyers we let them know that there is a gonna be some cost increases throughout the projects and so we increase communication so that our home buyers are not surprised by any of the rising price of materials.”
The constraints on homebuilders are unwelcome news for homebuyers already facing historically low levels of resale homes on the market and second prices.
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