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- Home-improvement projects are being set back by months due to shipping delays and shortages.
- The home-buying and remodeling boom has companies struggling to keep up with demand.
- Skyrocketing lumber prices are also making projects increasingly expensive.
- See more stories on Insider’s business page.
The pandemic caused a surge in home-improvement projects at the worst possible time and many companies are still struggling to keep up with backlogs of projects.
Over 44% of home improvement plans in the US have been delayed due to supply shortages and skyrocketing material costs, according to data from market research firm, Cardify.ai, a company that uses transactional data to generate reports on consumer spending.
Steve Cunningham the CEO of Cunningham Contracting and the chair of the National Association of Home Builders’ (NAHB) Remodelers Council said his projects are being delayed by months due to the limited availability of materials, as well as laborers. Data from the NAHB Remodeling Market Index indicates that, on average, home improvement projects are facing 1-2 months of delays.
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“A lot of remodelers have more business in front of them than they can service,” NAHB Chief Economist Robert Dietz told Insider.
John Bitely, the president of Sable Homes, a home-building company based…
