West Palm Beach Real Estate Market Braces Itself for Stiff Prices and Material Shortages

West Palm Beach real estate developers and builders are getting ready for the stiff price increases and nationwide material shortages that are expected to occur over the next six months to a year, when rebuilding starts along the Gulf Coast. “Diesel fuel, roofing shingles, insulation and PVC pipe are some of the items that soon could be hard to find,” while concrete is “already in short supply because of the building boom in China and other factors.”

Market watchers believe that West Palm Beach real estate currently under construction will now take longer and cost more to finish and that the West Palm Beach real estate market could take a hit over the next year as new housing starts to decline dramatically.

One thing is certain, those absorbing the increase in costs will be the West Palm Beach real estate buyers. West Palm Beach builders have even begun including disclaimers in their estimates, “saying prices are subject to change because of the volatility in the industry.”