Everything and the Kitchen Sink: How the Supply Chain Is Strangling Real Estate—and What You Need To Know
Walking into a home improvement or furniture store these days can feel like being the last person at the supermarket before a blizzard—with scores of desperate shoppers rifling through half-empty shelves. But it’s not because of an impending natural disaster or a zombie apocalypse.
From major appliances like ovens and dishwashers to lumber to the smallest pieces of pipe, items needed to build or fix up homes have become torturously hard to come by as the global supply chain issues drag on. The unavailability of or delays in receiving critical parts, materials, and labor is worsening the already severe housing shortage and making it harder for folks to fix up the homes they own. And while it’s wreaking havoc most directly on new construction and home renovation, the impact is being felt in all corners of real estate.
So what’s really behind the Great Slowdown—and how long will it last?
The data team at Realtor.com® decided to take a deep dive into what’s causing the big holdup, and which items are most affected by the severely congested supply chain.
Supply chain issues, or hiccups getting a product from the manufacturing stage to its final destination, are affecting “everything, including the kitchen sink,” says Robert Dietz, chief economist of the National Association of Home Builders. “It’s the nuts and bolts, literally, to build a home.”