There’s little doubt that if you’re reading this, you’re aware the remodeling industry is knee-deep in a labor shortage. What you might not know is how it’s affecting your peers.
The latest Remodeling Market Index (RMI) survey from the National Association of Home Builders is now out, and the results—which cover Q3 2018—give insights into the impacts of the labor shortage on remodeling businesses around the country. The RMI is based on a quarterly survey of NAHB remodeler members that provides insight on current market conditions as well as future indicators for the remodeling market.
Remodelers shouldn’t take this as a warning, but accept it as a current reality—and as a call to action. Higher wages, benefits, an inspiring culture—these are ways the top remodelers we’ve talked to over the last year are keeping their employees happy and in-house.