New Home Sales: The Labor Shortage Hits Hard

Soaring Demand and Labor Shortages

New house sales surged in May by 7.0%, according to the Commerce Department.

This surge in new home sales is driven by strong demand for housing and a low supply of existing homes. However, this increase in demand has also led to a labor shortage in the construction industry.

Impact of Labor Shortages on New Home Sales

The labor shortage in the construction industry has had a significant impact on new home sales.

Builders are facing difficulty in finding qualified workers to build homes, leading to delays in construction and higher costs for new homes.

Addressing the Labor Shortage

There are various measures that can be taken to address the labor shortage in the construction industry and boost new home sales.

• Increase training programs for construction workers
• Encourage more people to enter the construction industry
• Improve wages and benefits for construction workers