Builders Operating in the Black Despite Market Challenges
Supply bottlenecks, labor shortages, rising rates no match for builder tenacity.
The Association of Professional Builders on Thursday released its builder forecast for 2023 that yielded a study in tenacity among constructors despite challenging market forces that have disrupted the industry.
Select findings from the group’s State of the Residential Construction Industry (SORCI) Report – an annual survey of some 1,000 residential home builders operating in the US, Australia, Canada and New Zealand – found that 58% of builders still delivered homes on time and are operating in the black. Broken down to just US builders surveyed, the total was 59.6%, Russ Stephens (pictured), co-founder of the association, told Mortgage Professional America during a telephone interview.