Written by: Samantha Guarderas
According to CNBC, homebuilders are currently experiencing a rise in demand for homes. This progress has been consistent over the past year and provides hope to homebuilders who suffered after losing 70% of their business in the housing crash. Now, with this boost in new orders for homes the main problem in executing homes in a timely manner is a lack of workers. After the housing crash, many workers left the home building industry in search of jobs with higher demand.
Due to the shortage of these workers, more specifically, framers, concrete workers, plumbers, roofers and painters, the cost of labor is greater. Homes that previously could be finished in 6 months now take 9 months. To replace these workers isn’t nearly as easy as it seems. These jobs require highly skilled workers and on the job training is undesirable. Time is money and in today’s market it can’t be wasted. They need workers that are already trained and prepared to begin the job.
In the month of September alone, Eklipse Real Estate has had over $4 million dollars worth of real estate in escrow! Also, we currently have a home in development located at 7561 Clinton Street, right off of the world famous Melrose Avenue. The property is a 2 bedroom, 2 bathroom, single-family
home, estimated to be completed within the month. Make sure to continue to browse our website for our upcoming listings and don’t forget to follow us on twitter @EklipseRE to be kept up to date on our properties, as well as the latest real estate news!