Home improvement demand outpacing supply [Video]
Posted on Wednesday, April 20, 2016 at 3:36:00 PM
Homeowner confidence is growing across the United States. This has been evidenced by several studies released in the past couple of months related to both sentiments and home improvement plans. Thanks to economic gains seen across a range segments, including employment, gross domestic product, credit health and the like, consumers appear to be more willing to invest in their existing homes, as well as new ones, than they have been in the years since the recession.
NBC 26 recently reported that home improvement plans are expanding at such a rapid pace that some areas are experiencing setbacks due to a lack of construction company availability. According to the news provider, a talent gap in the construction industry has meant fewer options for homeowners looking to contract professional services. Notably, construction firms from across the nation have been struggling to staff their firms with skilled workers for years now.
Although this is certainly an inconvenience, it is indicative of a healthy economy. When demand is outpacing supply in any segment of the residential sector, the market can be viewed positively. Homeowners can likely find other avenues toward completing their improvement projects.