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Updated over 4 years ago on . Most recent reply

User Stats

81
Posts
50
Votes
Julie DeWolfe Arroyo
  • Realtor
  • southern Idaho
50
Votes |
81
Posts

New builds are 2 YEARS out, and other red flags

Julie DeWolfe Arroyo
  • Realtor
  • southern Idaho
Posted

South central Idaho housing shortage is beyond painful.  I am pondering the impact that local builders have because they are contracting for builds 2 years out.  Since the contracts are between builder and buyer I wonder how interest rates, lending, closing, and build costs are being dealt with, I find it highly unlikely that local builders will shoulder cost adds.  

I understand the dog fight to get a home, as I look at the MLS I see ONLY 23 active listings for SFR in the most desirable community. Rumor has it that "the building supply" store will begin picking and choosing whom they will serve, since the demand is far beyond their capacity. This also impacts the remodel market, quality contractors are booked 2 years out on new construction and it's doubtful that smaller guys can find qualified workers or the construction materials to move forward.

How are you dealing with this in your area?

There must be solutions or opportunities, right?   

Most Popular Reply

User Stats

24
Posts
21
Votes
Trevor Greene
  • Property Manager
  • Boise
21
Votes |
24
Posts
Trevor Greene
  • Property Manager
  • Boise
Replied

It is surely interesting to think about. Based on the most recent census bureau data, we (Americans) are moving at the lowest rates ever recorded. It is a concerning trend that people are much less likely to chase work across states than they used to be. There is a shortage of skilled tradespeople across the board, and the boom in Idaho will likely leave us hurting more than the rest for a while to come. I'd like to think that some enterprising builders would figure a way to attract people here, but with building supply uncertainties I wouldn't think anyone would be willing to take too much of a risk. Just thinking out loud - this is not my area of expertise.

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