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Supply chain crisis drives up Northwest Florida home prices


WEAR file
WEAR file
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PENSACOLA, Fla. -- An economist tells Channel 3 that the housing market is one of the areas where Northwest Florida is experiencing the greatest impacts of the supply chain crisis.

The National Homebuilder’s Association recently conducted a survey asking builders about supply shortages.

Ninety percent of builders said there was a shortage of windows, while 87 percent said there was a shortage of plywood.

Northwest Florida realtor Jessie Mays says these problems are driving up the prices of homes in Northwest Florida.

She says the average home sold for about $284,000 in the Greater Pensacola area last October. She says the average sales price for a home in October 2021 was $337,000.

Mays tells Channel 3 homebuyers should be patient while they’re looking on the market.

“You have to go ahead and put some paint on somebody’s walls or possibly change out some carpet," she says. "What may be available to you may not be the perfect HGTV home.”

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