Business is booming for many builders and remodelers this year, and there’s growth predicted for 2022, too. But with supply issues and labor shortages, what can builders expect in the new year when it comes to actually doing business?
Here’s what experts in the industry are predicting:
Homeowners have spent more time in their houses, which means they’ve found more repairs that need doing. And they’re either working on those repairs on their own, or thinking about moving into something a little newer.
“What can be guaranteed is that builders will be busy this year with construction starts. People have been stuck inside and want a change of scenery or a larger space. Homes will be in demand for the foreseeable future,” according to the Smarter Building Materials Marketing podcast.
This demand for homes has, in turn, heightened the demand for skilled workers. According to Business Insider: “Demand for construction boomed during the pandemic thanks to a wave of home improvements, but the industry's workforce shrank, plummeting from 7.65 million workers in February, 2020, to 6.53 million just two months later, BLS data shows.”
The labor shortage isn’t news, but those numbers are especially staggering. This has gotten the attention of corporations like Facebook, who are sponsoring programs to provide free training in construction, to help communities across the U.S. prepare for growth and change in the years to come.
How are you planning for the new year? Make sure your business stays on the right track with a dealer who supports you. To stay up-to-date with what’s happening in the market, sign up for our monthly Market Report now. Commitment to service is an essential element of the Talbert Difference. By working together, we can keep your projects running as smoothly as possible.