‘Growing pains’ for home builders: Lack of lots, rising cost of materials and labor

By Kent Hoover | Bloomberg News

The housing market’s comeback has hit a speed bump — an index of home builders’ confidence slipped again in March.

The index, which is compiled by the National Association of Home Builders and Wells Fargo, is on a three-month slide after eight months of gains. It’s based on home builders’ perception of current sales for new single-family homes and their expectations for future sales.

Demand isn’t the problem: supply is. There are “frustrating bottlenecks in the supply chain for developed lots, along with rising costs for building materials and labor,” said NAHB Chairman Rick Judson, owners of Evergreen Development Group in Charlotte, N.C.

Continued:

Also: Canadian building company takes over Glendale Schuck & Sons site

More Homeowners Dig Out

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March 19, 2013

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‘Growing pains’ for home builders: Lack of lots, rising cost of materials and labor

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‘Growing pains’ for home builders: Lack of lots, rising cost of materials and labor

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