Given the cost pains that commercial real estate construction has seen, some promise of lower prices in the foreseeable future are welcome. That's what John Burns Real Estate Consulting is suggesting in a blog post.
"While housing starts have been steadily declining since February, our recent survey of more than 500 remodelers shows a slight remodeling decline ahead too," the post read. "This means that building material demand will almost certainly decline next year at the same time that supply is finally catching up to demand."
The results should be stabilization of building materials prices and labor availability, at least in the trades involved in new home and remodeling construction.
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