The National Association of Home Builders recently surveyed their members to ask them about the challenges they currently face and the challenges they expect to face.
Far and away, the biggest headache for homebuilders right now is the rising cost of building materials.
96% of the survey respondents cited this as a significant problem they faced in 2020 and 89% believe it will be a significant problem this year.
It turns out that builders are not only concerned about building material costs, but also the availability of those materials.
78% said availability was a significant problem last year and 80% said that it will be a significant problem in 2021.
Due to increasing materials costs, we notice builders locally having to raise their base prices significantly in order to keep up with rising costs.