Second Half 2020 Homebuilding Outlook is Positive
The early 2020 Q3 reports from agencies in the US homebuilding industry show a positive outlook for builders and buyers throughout the rest of the year. While most of the U.S. news covers a public health crisis and fiery upcoming presidential election, there is good news:
- Borrowing rates are down (though loans are harder to secure)
- Demand for new homes along the Grand Strand continues to rise
- Builder confidence is high
In short, if the outlook of the industry factors in to your plans, take comfort in knowing that the homebuilding industry is strong and that the Myrtle Beach area is often one of the earliest to rebound after national drops.
Post-COVID Shortages Affect Some Aspects of Homebuilding
Despite the optimism of recent reports, there are issues with material supply and delivery times that can impact building costs and construction planning.
The COVID-19 outbreak and widespread closures still have an affect on supply. As a result, the Associated Builders and Contractors attribute rising material costs to shortages resulting from the coronavirus outbreak and global tensions affecting trade.
The Benefits of Working with a Design-Build Firm
Hiring Odom Design for a new construction project means you’ll have one team overseeing all aspects of design and construction. In-house project management and a simple communication network allows the Odom team to better gauge and communicate factors like rising material costs that can impact a budget or schedule.
The Myrtle Beach area remains a desirable and affordable destination for many. A new home on the Grand Strand is sound investment, even in the face of other uncertainties.
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