Zillow’s Home Price Expectations (ZHPE) Survey found that 67.1% of surveyed housing experts believe construction labor costs will go up due to the decline of undocumented immigration in the U.S. 43.5% of respondents said fewer illegal workers means more U.S.-born or other legally authorized workers will enter the residential construction workforce, but 40% said that high labor costs will force homebuilders to shift to the higher-margin, luxury end of the market to see profits.
In the survey, more than half of the participants said the decline in single-family construction in the last 10 years was due to high labor costs and a lack of skilled workers. And 30.6% of survey participants said the declining number of undocumented workers will result in fewer new homes being built.
Advertisement
Related Stories
Codes + Standards
Public Comment Period Opens for National Green Building Standard Updates
The 45-day public comment period for draft 2 of the 2024 NGBS begins on April 12, 2024
Codes + Standards
Public Comment Period Opens for 2024 National Green Building Standard Update
The 45-day public comment period opened Aug. 18, and comments must be submitted by Oct. 2, 2023
Codes + Standards
The Inefficiencies of the Latest Energy Code
The 2021 edition of the International Energy Conservation Code (IECC) hampers the return on investment for builders and homebuyers