Home Construction Craziness
While the rest of the world was slowing down in 2020, the housing market was in full swing. With lower interest rates, came higher demand. Homes started selling the day they hit the market, many times for well over the asking price. Buyers began waiving inspections and appraisals, and started paying with cash. Home values sky rocketed and people began to weigh other options. Building seemed, in many ways, to be the better option, but that changed drastically when lumber costs sky rocketed.
The pandemic took a toll on the economy last spring. Sawmills, as well as several other manufacturing companies slowed down in preparation for a slump in the housing market. However, that never came. If anything, it increased, but material costs sky rocketed because while demand increased, the supply chain was at a dead stop. Lumber prices rose 170%, causing a plethora of other problems for builders.
Even now, a year later, home builders are having a hard time getting work completed in a timely manner. Closing dates have continuously been pushed back because materials are impossible to find. Rising costs have added roughly $16,000 to the cost of a single-family home in some parts of the United States. Every company involved in the housing industry is slammed, including exterior painting companies.
And the heat hasn’t been helping! Between summer storms, and temperatures in the 90’s, everyone has been running a bit behind. But cooler weather is on its way! And although most of us in the industry are incredibly grateful to have the business, we kindly ask that you be patient with us as we navigate this crazy housing industry together.
Trust us, it will as be worth it in the end. It’s amazing what a little paint and one great product can do for your home value! And who wouldn’t want to come home to a freshly painted exterior that makes you smile every time you see it? Head to our main page or give us a call today for more information on available start dates, pricing information, and any other areas of concern. Trust us, you won’t be disappointed!