By all indications it’s going to be a banner year for replacement contractors who are enjoying sustained growth in the midst of the ongoing recovery. But that growth could be much higher if not for one persistent problem: the labor shortage.
More than 51% of remodelers are turning down some projects due to the labor shortage and 35% are losing or canceling sales altogether, according to NAHB surveys.
The organization’s Remodeling Market Index shows 91% of remodelers reporting labor shortages for finished or rough carpentry with more than 40% of those shortages seen as “serious.”