He said building lags overall demand for a variety of reasons, including an aging workforce that is causing a shortage of construction workers, low lot availability, steadily rising costs of building materials and land, and the difficulties builders are having in obtaining construction loans. (nar.realtor)
NREI: What are the most immediate impacts of Trump's tariffs on commercial real estate, besides the higher cost of building materials? (nreionline.com)
Though an undeniably favorable climate for prospective homebuyers, Gallagher cautioned that the rising costs of building materials and labor will eventually drive up new home prices in new home communities across Chicagoland. (gallagherandhenry.com)