Home prices are soaring across the country, which the National Association of Realtors blames mostly on a lack of supply. So why aren’t builders providing more inventory?
Simply put, new environmental protection regulations and municipal fees are stopping builders in their tracks.
According to the National Association of Home Builders, regulatory fees for new home construction have increased by nearly 30% over the last five years.
Unfortunately, those costs get passed on to the consumer. Local impact fees, storm-water discharge permits, and new construction codes have all increased in cost at approximately the same rate as the average price for new homes.
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