Recent survey data suggest that the recovery in housing starts would have been stronger if not for shortages of labour within some specialised trades. But although a scarcity of labour may be preventing builders from constructing as many homes as they would like, they are not so severe that the recent rise in housing starts will grind to a halt. Indeed, the current shortages provide further evidence that demand for new homes is rising strongly. That can only be positive for homebuilding.
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