With so many buyers in the market for a home, the issue with supply and demand when it comes to new home construction has become a huge problem. Without the promise of a new home, some buyers are settling on a resale.
If you’re looking for a home to buy in the Atlanta area, you’ll be quick to realize that there’s a MAJOR supply & demand issue! But…why?
Builders are having issues finding qualified contractors, and there are fewer & fewer choosing to build now because of the inflation in lumber and supplies it takes to build a home. Let’s talk about building a home – supply and demand.
In addition to NOT wanting to lose money, the number of homes they *CAN* complete is cut down because they’re running out of product due to COVID-related inefficiencies. Things like appliances and electrical supplies are on backorder or are just not being produced right now.
Things like appliances and electrical supplies are on backorder or are just not being produced right now.
To put it short, In order to build homes now, the cost is much, much higher. Builders simply don’t want to lose major $$$ on building properties that would cost less to build once the supply process comes down.
So if you’re in the building process right now, hold tight! Hopefully, as things return to a more normal, balanced state we will see builders pick up speed on the process. If you’re looking to get started with an S&C agent, contact us here!
Or start your new construction home search here!