Bridge Magazine Looks at New Homes Demand and builder costs

As part of an interview with Bridge Michigan, Sable Homes President John Bitely said, “ At some point, and we don’t know what that is yet, the consumer can’t afford to buy, even if they want to. When that happens, our business will slow down.”  The article, “New homes demand is high in Michigan. So are builder costs – and prices” looks at the increased costs associated with new home construction. The increased costs of  lumber are affecting framing, flooring, cabinets and so much more. The article notes that builders in Michigan weathered the pandemic and reached a four-year high in the number of homes built, but now buyers are facing higher interest rates and longer wait times before being able to move.  “Right now, we’re telling people that we’re around August or September before we can start a new home, even if they start their process today,” Bitely noted.