By Ashok Chaluvadi
© National Association of Home Builders
Topping the list of problems builders faced in 2015 and expect to face in 2016 is the Cost/Availability of Labor, an issue for 76% of builders who expect it to increase in 2016 and which has increased in importance the past three years. In 2013, 53% of builders rated labor as a significant problem, followed by 61% in 2014 and 71% in 2015. An expected skilled labor shortage can constrain an improving housing market.
The monthly NAHB/Wells Fargo Housing Market Index often includes a set of “special” questions on a topic of current interest to the housing industry. In January 2016, the special questions asked builders about the problems they faced in 2015 and expect to face in 2016.
The second most significant problem was Cost/Availability of Developed Lots for 59% of builders for ... Read the entire blog at the NAHB’s Eye on Housing website.