Over the past month, the United States has faced an inflation rate of around 4-6% which is nearly double the inflation that we usually expect annually. During these times when the demand for housing is exceeding the supply and while prices are inflating, how can home builders, remodelers, and contractors capitalize on the market and ensure success?
Alongside the inflation, the housing market is seeing consistent high demand with a housing shortage of around 3 million homes despite 1.4 million homes being built per year, according to the National Association of Home Builders.
Listen to this episode to hear more from Spencer about the current inflation in the United States and how you can prepare your residential construction company for success during this time.
Learn all about it here on Builder Funnel Radio!
- 0:38 Introduction
- 1:01 Question of the Day: Should I Target Both Commercial and Residential Construction Work?
- 3:21 What Is Inflation?
- 5:31 What Does Inflation Mean for the Residential Construction Industry?
- 8:36 Challenges During the Time of Inflation
- 10:46 What Should I Do During Times of Inflation?
- 13:38 Final Takeaways