The Survey of Construction by the National Association of Home Builders (NAHB) shows that the average completion time to build a single-family house during just the past year has increased by about 20%. A new home in 2022 took around 9.6 months to build. This is one-point-five months longer than the 2021 average completion time, reflecting worsening supply-side challenges and skilled-labor shortages that persisted in this new economy.
What’s this mean to the forest contractor? There are many parallels between small business forest contractors and home builders. Equivalent to the supply-chain and skilled labor challenges of the home building industry, forest contractors are experiencing project completion time lengthening—accompanied by rising expenses and new obstacles. With today’s higher costs of capital and borrowing, such delays and project lengthening add cumulative impacts to complex forest projects.
More about the NAHB Survey of Construction: READ MORE
Email to a Friend
