Building a home right now will cost you more and take longer to complete

Business

AUSTIN (KXAN) — Homebuilders especially are feeling the strain of delays, shortages and soaring prices, which consequently affects homebuyers. Michelle Pitcher, housing reporter for the Austin Business Journal, followed local homebuilders who are navigating the supply chain disruptions. She spoke with KXAN’s Amanda Dugan about the delays, shortages and price increases.

Pitcher said the homebuilders she shadowed are taking it day by day and coming up with creative solutions to keep the work from stalling while they wait for backlogged materials.

“One builder who, for example, needed metal supports for an awning. But the metal at this point was three weeks late,” Pitcher said. “So they had to just fashion temporary wooden supports for the entire awning, that once the metal came in, they would have to remove and replace, but they just had to keep the work moving forward.”

She said prices are surging on items like lumber, but you be hard-pressed to find a material that isn’t holding a high price tag right now.

“In 2021, prices rose for things like metal, which means the nuts and bolts and fasteners needed to secure the home,” Pitcher said. “They also rose for things like asphalt and some plastics, even fertilizer. So from the literal foundations of a house up to its ceiling builders are having to contend with these rising prices.”

Pitcher spoke with industry experts who anticipate these problems to persist throughout the year, but relief might come throughout the year. So prices will continue to be high, but probably not as high as they were last year.

Read more from Austin Business Journal online.

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