Dealing with supply chain issues
It should not come as a surprise: supply chain issues are affecting every industry. From grocery items to car parts, clothing and building supplies, the supply chain is broken.
The past months have hit the construction industry hard. Shipments from China are taking twice as long to be delivered to the U.S. ports, cargo ships have longer than average wait-times to dock at the ports in Los Angeles and Long Beach, and the cargo is sitting on those ships for days before being off-loaded due to labor shortages. “We are hiring” signs can be found everywhere throughout San Diego. The real estate and construction industry is no different – workers are in demand.
Despite these various challenges, the building industry has not slowed or weakened. In fact, the demand for new homes, apartments and construction projects remains healthy.
Builder confidence in the single-family home construction market is so robust that the National Association of Home Builders/Wells Fargo Housing Market Index reported this fall that the demand increased 4 points to an index of 80 last month. To qualify the Market Index, any number above 50 is considered positive.
Now, more than ever, project management and industry experience are vital to the successful completion of construction projects, whether they are residential or commercial. Today’s environment has too many unknowns, which means that the construction team must be able to think on their feet, shift directions and be creative when necessary. Murfey Company is in need of talented managers and is actively hiring qualified candidates.
Murfey Company brings to the community extensive experience and a lengthy list of successfully completed projects. These industry challenges have not slowed us down. Murfey Company manages both the development and construction functions in-house, which gives us and our partners and clients some flexibility during a time when there are many constraints. Being a vertically integrated company allows Murfey Company to remain nimble during challenging times.
Our project managers collaborate closely with clients to set timelines given the slow-downs and the rise in cost for labor and for materials, such as wood and steel. We strive to keep the client in the loop as to what to expect, too.
Continued delays, bottlenecks at the ports, shortages of labor and materials price increases are inevitable. We are taking the necessary steps to move our projects forward with as little disruption as possible. Ordering materials early in the process, making an effort to retain our valued staff and watching the markets closely are some ways we are working to maintain our successful record.
As a side note, Murfey Company also is keeping an eye on how the rising cost of materials, labor and land are affecting affordable housing options for San Diegans.
Murfey Company has been a leader in the commercial and residential building industry since 2009. For more information go to www.murfeycompany.com.
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