Is now the right time to build a house?

The resale inventory for houses is LOW. 

Are you trying to decide if NOW is the time to build a home? While you consider this there are several things to keep in mind. The builders out there are facing problems outside of their control right now.

Here are a few things to be AWARE of that are happening right now-

1. Supply chain issues

Though lumber seems to be one of the main issues in the news there is delays and increases with things like paint, hvac, garage doors, roofing materials, etc. The list goes on. Be aware that when the builder can't get something it causes a string of delays. You don't have dry wall, you can't paint. You can't paint you can't do,.... etc.. you get the idea.

The National Association of Home Builders (NAHB) agrees:

“Builders are grappling with supply-chain issues that are extending construction times and increasing costs.”

2. Skilled Labor Shortage

Builders are also having a hard time finding skilled labor, which means they’re short-handed, further dragging out their timelines.

How This Impacts You:
There are supply issues AND labor issues. Things are taking longer and the cost is higher.
So, when you weigh your options and try to decide between building a home or buying an existing one, factor the potential delay in new home construction into your decision. While it doesn’t mean you should cross newly built homes off your list, it does mean you should consider your timeline and if you’re willing to wait while your home is being constructed.

BOTTOM LINE...

When planning your next move, understanding the latest market conditions is key to making the best decision possible. To make sure you have all the information you need, let’s connect. Together we can make sure you know what’s happening in our local market so you can confidently decide what’s right for you, your priorities, and your timeline.