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Belfiore: Rising costs impact Valley homebuilders’ ability to deliver affordable housing

Posted by   /  September 19, 2019  /  No Comments

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Construction costs and a labor shortage are making it tougher for homebuilders to deliver affordable homes. / Bryan Snider / Phoenix Business Journal

By Angela Gonzales | Phoenix Business Journal

As demand in the Valley increases for entry-level homes, homebuilders are doing what they can to give buyers what they want, but how long they’ll be able to offer entry-level prices remains to be seen.

“We really do have a perfect storm here,” said Jim Belfiore, founder and president of Belfiore Real Estate Consulting. “Costs are just rising so fast and it’s going to continue that. It’s going to be difficult for builders to continue to deliver affordable housing in the future. It’s a large concern we need to figure out solutions to.”

Demand is still growing at a healthy clip, Belfiore said.

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