Dec 07

Home Goods That Are Getting Pricier, Harder to Find

Home Goods That Are Getting Pricier, Harder to Find

 

Supply chain woes have been hitting the housing market, affecting appliances, windows, paint, and other items needed to build, repair, or improve home. That has driven prices higher.

New-home buyers have felt the pinch: The median sales price for a new home in October was $407,700, up 17.5% compared to the same time a year ago, according to realtor.com® data. Builders point to higher material costs, as well as labor and lot shortages.

The blame for the bottlenecks has been placed on a variety of causes: the ongoing pandemic, Americans buying more for their homes, a shortage of shipping containers, added tariffs on goods, and other issues. A lack of workers at ports and drivers is also slowing logistics, analysts say.

“Consumers should expect continued frustration with delays and rising prices,” Ali Wolf, chief economist at Zonda, a building consulting firm, told realtor.com®.

Lumber prices remain high, with softwood jumping 70% since the pandemic began. They are down from summer peaks but remain well above pre-pandemic levels. “Those declines in lumber prices have had a positive effect, but they have not come down all the way,” Robert Dietz, chief economist at the National Association of Home Builders, told realtor.com®. “And the pricing of just about everything else has gone up.”

Household appliance backlogs are also pressing on the housing market. Unfilled orders have nearly doubled since the pandemic began, realtor.com® notes. “Whether it’s a remodeling project or a new build, delays in the supply chain are having an impact here in the housing market,” Dietz says.

Costs for paint also have increased, jumping 15% compared to 2019, realtor.com® finds. Paint suppliers are struggling to keep up with the high demand from new-home construction and homeowners’ remodeling projects, housing analysts say.

Furniture costs are up as well—prices on home furnishings are up 5% since 2019, realtor.com® notes. Furniture retailers are reporting that many consumers are waiting months rather than weeks for their furnishings to be delivered.

Source:
“Everything and the Kitchen Sink: How the Supply Chain Is Strangling Real Estate—and What You Need to Know,” realtor.com® (Nov. 30, 2021)
©National Association of REALTORS®
Reprinted with permission

admin

For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.

Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.

Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.

When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.

For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.