In keeping with the latest Texas real estate trends, development of new Stephenville homes may be in the works as demand continues to grow for new real estate options. However, the surge of demand is causing builders to have some difficulty finding labor and supplies to complete the construction of new developments. An influx of construction jobs has flooded the Texas economy since December, but some builders still claim that it’s difficult to complete their projects because skilled workers are in such high demand.
Construction delays are becoming commonplace as builders expand their search for labor. Because of the recession, many skilled workers in North Texas left to find work elsewhere, thus creating a labor shortage that has some local homebuilders worried about meeting customer demands. Migration from Mexico has also flattened in the past few years, and since many construction workers were immigrants, this has added to the overall labor shortage in Texas.
The Texas economy is gaining momentum; as a result, more workers may be compelled to move to the North Texas area to take advantage of the numerous job opportunities now on the market. Until then, however, the price of Stephenville homes may rise as the demand for new housing continues to outpace the supply. If the labor shortage in North Texas persists, higher prices are a consequence that may impact the real estate market for years to come.
Get in touch with our team of real estate experts if you would like to find out more about Stephenville real estate! We’d love to show you some of the latest Stephenville home listings.