KC Business Journal Article Highlights Industry Demand, Supply Costs
“Increasing land costs and supply shortages are hampering Kansas City homebuilders’ ability to get homes on the market, even as they face unparalleled demand,” a Feb. 7 article by the Kansas City Business Journal states. The article, “Despite heavy demand, KC homebuilders anticipate a year full of challenges,” focuses on how local homebuilders are bracing themselves as demand and supply costs spike.
KCHBA member Shawn Woods of Ashlar Homes and KCHBA Executive Vice President Will Ruder were quoted in the article, with Woods noting that the best time to buy a home was yesterday. “We would carry probably in the 20 to 30 range as far as homes building being built speculatively for future customers, and we don’t have any,” said Woods in the article. “There’s nothing I have in the air that’s even at a foundation stage that’s for sale that’s not already sold.”
At the same time, construction material costs are increasing at a fast pace. “With the costs of construction and the costs of land development going up, it’s going to be very difficult to satisfy that entry-level market demand because it is enormous here,” Ruder said.