[ad_1]
PALM BEACH, FL /ACCESSWIRE/April 29, 2021/ In Florida, residential home prices have skyrocketed over the past year due to several factors, including falling mortgage interest rates and the Covid-19 pandemic. The Florida Realtor Department reports a 17% growth in residential home sales in South Florida since 2019. Unfortunately, the inventory of single-family homes on the market has been cut in half. Many buyers struggle to find homes to buy. Along with a lack of inventory, the cost of construction has increased due to the global coronavirus pandemic. “Supply chain disruptions have increasingly disrupted all aspects of the construction industry,” explained Robert Burrage. “Many indicators predict that material costs will see the greatest growth, with labor costs also seeing steady increases as the pandemic spreads.”
Average prices for building materials are expected to increase by 6% by the end of 2021. “The supply and demand problems caused by the pandemic have caused major shortages of certain supplies and record growth in the cost of materials construction,” said Robert Burrage. “Congestion at shipping ports delaying the movement of containers is attributed to this shortage, adding a premium to available space and impacting the overall cost of construction.”
The construction labor shortage, which was a problem before the global COVID-19 pandemic, worsened last year. Many entrepreneurs have reported difficulties in finding enough employees to undertake new developments. Boosted by a shortage of talented workers, wages for the construction workforce have risen nearly 5% this year alone.
While many home construction companies around the world are suffering from these closures, RWB Construction Management is thriving. “RWB recently completed a twenty thousand square foot estate on the coast of Manalapan, Florida,” explained Robert Burrage. This stunning beachfront estate went on the market at the height of the pandemic and closed a record deal eight days later. RWB Construction Management builds and oversees more than 100,000 square feet of luxury, high-end residential estates in South Florida each year. They are recognized for their ability to oversee huge residential projects from concept to completion.
When asked about construction challenges recently, Robert Burrage said, “Market volatility makes it nearly impossible to assess construction cost estimates. It’s more like trying to hit a moving target. The only thing we can do is continue to adapt the tactics to the terrain and completely buy out the projects as soon as possible. The only way to handle this is with the right team experienced in pre-planning and by sourcing projects as soon as the ink on the contract dries.”
Robert Burrage and his team are ready to help clients find the property, select the team, collaborate with architects and designers, modify plans and adjust all decisions. The RWB team works hard to maintain the speed, accuracy and quality that its customers expect and deserve.
CONTACT:
Robert Burrage
RSF Construction Management
+1 561.270.1808
[email protected]
THE SOURCE: Robert Burrage
See the source version on accesswire.com:
https://www.accesswire.com/643421/Robert-Burrage-Discusses-How-RWB-Construction-Management-Overcomes-Rising-Construction-Costs
[ad_2]
Source link
