What’s Behind the Pile-Up of New Houses for Sale, Highest since 2008, as Construction Costs Spike Most in 42 Years, Projects Stall | Wolf Street

Homebuilders are struggling with shortages of all kinds, including shortages of windows and appliances, and completing a house has become a complex task of dodging supply-chain chaos, where builders are trying to find substitutes for the things that they cannot get. Houses remain under construction with no activity while the builders wait for supplies to come in. Other projects are being put on hold or don’t get started due to the supply shortages.

In addition, homebuilders are facing rampant price increases in materials, and they’re facing labor shortages that cause them to increase wages, and contracts can reflect the uncertainty about those price increases and could get the buyer stuck with higher costs.

What’s Behind the Pile-Up of New Houses for Sale, Highest since 2008, as Construction Costs Spike Most in 42 Years, Projects Stall | Wolf Street