During the first five months of this year, construction spending amounted to almost $5 billion, down for the same period in 2018.
In response, the National Association of Home Builders said, “Builders report the market is stabilizing following the slowdown at the end of 2018. Furthermore, we anticipate a solid spring home buying season,”.
However, the report indicated many challenges builders faced as they strived to construct affordable homes. In fact, a skilled worker shortage, lack of buildable lots and stiff zoning restrictions were among the biggest
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