I’ve had 3 potential customers tell me they are going to wait for building prices to stabilize next year. I am new to the business. Do you expect this to happen? What are the big builders doing? I know from experience having my own home built that a home is never cheaper next year than it is this year. When steel prices drop, Ford doesn’t drop the price of a car.
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Here in NW Ohio several custom bldrs are using a modified time and material quote for new construction. The time they know, but the material cost still cannot be firm. We also expect the material to at least take a shot at going down. How far?
Material prices are dropping pretty quickly around here. 3/4" ply that was $90.00 6 weeks ago is $38.00 now. No telling if they will keep falling but it looks better.
Our costs are going down but are contract prices going to reflect that for spring construction 2022?
I’m doubtful that current bids and contracts for next year will go down much if any. Those bldrs that lost $ when honoring this spring/summer’s bids will look to make up that loss.
Considering that all the builders here (midcoast Maine) are busy at least 2 years out despite the material costs, I don't see any incentive to lower prices if/when material gets cheaper. My area isn't really representative of a balanced market, though, lots of second/third/fourth homes for the 1%.
People were saying that about getting their cave remodeled.