TUCSON, Ariz. (KGUN) — The National Association of Home Builders says securing materials remains the top challenge for builders.
According to the NAHB/Wells Fargo Housing Market Index, 96% of builders said it was their main issue in 2021.
Other problems which may plague the 2022 housing market include:
- Rising inflation in U.S. economy
- Federal environmental regulations and policies
- Gridlock/uncertainty in Washington making buyers cautious
- Concern about employment/economic situation
- Taxes on home builders
- High interest rates
- Attempts to limit mortgage interest deduction/other
Securing employees became the second biggest hurdle.
Labor availability and costs was a problem for 85% of builders last year.
Unfilled job openings was also an issue for 82% of builders.
Caleb Fernández is a digital content producer for KGUN 9. After earning his bachelor's degree from Penn State in Advertising/Public Relations, Caleb went to New York where he learned production assistance, photography and art direction. Share your story ideas and important issues with Caleb by emailing firstname.lastname@example.org or by connecting on LinkedIn, Instagram, and Twitter.