Single-family construction has dropped off recently across most of the U.S., which is unusual considering it's the busiest time of the year for homebuilding, and builders blame it on a labor shortage. They say new home demand is strong but they are held back by a lack of skilled labor to build new homes.
Unemployment in the construction industry dropped in June to its lowest level since 2001, according to Associated General Contractors of America. Some high schools across the country have started new training programs to add skilled building crews: but so far, they've been slow to bring out new workers.
Tom: In SW Florida we have only had a mild shortage of construction workers, but I expect that to change as new home construction continues to pick up. As mentioned in several of our monthly Real Estate Reports, we have a severe shortage of housing, and the only way to rectify that is with new homes.