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Contractors are finding ways to work around supply chain delays, but projects are taking longer.
Demand for homes continues to outpace supply.
The National Association of Realtors reported on Monday that pending home sales were up 7.5% in October.
Some companies have decided it’s better to hold back right now.
Until all the appliances are installed in a home, construction is not complete.
A look at the factors influencing home construction.
Some of what we’re seeing might be making up for a spring in which people were stuck at home and not buying.
The numbers suggest that the reopening of major parts of the country gave a boost to the housing market.
“The labor shortage continues to be the number one issue for homebuilders,” one economist said.
Home sales have been on the rise, and so have home prices. But home builders are not ramping up production to even approach pre-recession levels.