Building costs continue to rise

Shortages of many essential materials needed to build homes have sent construction companies scrambling to find alternative – and frequently expensive – solutions so they can finish their projects. Over 90 percent of builders say they’re dealing with shortages of framing lumber, plywood, and oriented strand board. Other common materials in short supply include wood paneling, pipes, and ceiling joists.

Finally, dors, windows, and home appliances can be hard to get.

Higher costs for materials mean that the price of a finished home is also considerably higher – not exactly what the housing market needs right now.