New data from the NAHB shows that the labor shortage is continuing to impact new home prices by driving up costs. According to the builders surveyed, the biggest impacts on their business from the shortage were:
- Causing builders to pay higher wages/subcontractor bids (87%)
- Making it difficult to complete projects on time (81%)
- Making it harder to find subcontractors with well-trained employees (79%)
- Forcing builders to raise home prices (75%)
For more info, head to the NAHB Website.