In December's NAHB housing market
index, a set of special questions was included in the monthly survey.
Builders were asked to rate what their biggest challenges were in 2016
and what they predict those challenges would be in 2017.
The
answers weren't really all that surprising. The biggest issue had to do
with the cost and availability of labor. An astounding 78% of builders
surveyed saw the worker shortage as their biggest challenge. To put it
into perspective, that number was 13% in 2011. The biggest jump was made
from 2012 to 2013, when the number went from 30% to 53%. The concern
has only grown larger since then.
The second biggest
challenge to those surveyed was the availability of lots/building space.
60% of builders saw that as a challenge in 2016, while 67% see it as a
problem in the coming year.
Rounding out the top five
concerns were impact/hook-up/inspection or other fees, federal
environmental regulations and policies, and regulation of banking and
financial institutions.
Though not without its challenges, economically speaking, 2017 still looks to be a very promising year as recovery continues.
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