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Construction costs have spiked more than 20% in the past 12 months for Twin Cities Habitat for Humanity due to COVID-driven shortages, forcing the organization to scale back its projects.
The St. Paul-based nonprofit, one of the largest Habitat affiliates in the nation, built and rehabbed 18 fewer homes than usual in the past 12 months and already has nixed five homes slated to be built or renovated through next spring. We re hopeful as things loosen up, and maybe if the market slows down a little bit, that prices will start to come back in line, said Chad Bouley, the nonprofit s chief real estate officer. In the meantime, it s all a challenge . it s hard to plan around volatility.