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. Born and raised in Southern California, Caleb has always had an affinity for creative collaborations. After earning his bachelor's degree from Pennsylvania State University in Advertising/Public Relations, Caleb went straight to New York City where he learned the necessities of production assistance, photography and art direction. Share your story ideas and important issues with Caleb by emailing email@example.com or by connecting on LinkedIn, Instagram, and Twitter.