Could construction costs soon level out? – Nashville-Davidson, Tennessee

Nashville-Davidson, Tennessee 2021-09-18 13:26:55 –

Nashville, Tennessee — The CEO of the Tennessee Builders Association believes that the supply chain problems facing construction companies could be put to an end.

However, the end can be 18 months. Charles Schneider of the Tennessee Homebuilders Association said it could take some time for manufacturers to catch up with demand.

Due to labor shortages and high demand for almost all materials, the cost of construction materials has risen by 30% over the past year of July. The data comes from the National Association of Home Builders.

“In our understanding, it will take 12-18 months for the supply chain to catch up,” Schneider said. “It’s all from family workers, cabinets, windows and other skilled people who make custom products.”

Schneider also said there was a shortage of truck drivers to bring construction materials to the worksite.

It affects builders and buyers alike.

Steven Shalibo, owner of StoneBridge Homes and president of HBAT, said:

This affects the supply of all buildings until the pandemic begins.

Ultimately, Schneider believes that manufacturers will catch up with high demand. However, material costs do not slow the buyer’s pace.

Homebuyers’ interest rates remain low, he said, with more people trying to buy homes, especially in Nakasu.

“Demand is very strong and Tennessee is where people are moving from elsewhere,” Schneider said. “We are building a house as soon as possible. The materials do not come in as soon as we need them, which is a time consuming and now a very competitive process.”

Could construction costs soon level out? Source link Could construction costs soon level out?

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