How Supply Chain Disruptions Are Affecting Home Prices

Performance Property Real Estate Question

Q: My wife and I bought kitchen appliances and have to wait more than 6 weeks for them to be delivered, I assume because of the pandemic. Is there a way to get appliances faster? Brad, Watchung, NJ

A: Real estate is one of many industries that have been affected by supply chain disruptions caused by the pandemic. Many appliance manufacturers have maintained lean inventories for a long time to minimize costs, so recent supply chain disruptions caused by the pandemic have made it difficult for them to keep up with recent increased demand. In addition, manufacturers and suppliers are operating with COVID-19 safety protocols that slow production. Independent appliance dealers are often faster and more reliable now during the pandemic than big box websites because they typically don’t depend on third-party delivery services. Increased waiting times for appliances and building materials increases the time it takes for home builders and rehabbers to finish projects and get homes on the market to sell which reduces available home supply further and in turn increases home prices even more. Thanks for your question, Brad.

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Berkis Castro | Clifton, New Jersey

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Gita Gorji | Hoboken, New Jersey

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Crystal | Totowa, New Jersey

“Finally the bank called me and said that my loan modification was approved! I thank you so much for your help it really meant a lot to me...I really appreciate you. Thank you Thank you Thank you”

Camille Perry | Newark, New Jersey

“Hey Gerald wanted to give you a heads up that they offered me a loan modification. Thanks for all your help!"

Robert Evans | North Arlington, New Jersey

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Carol Cunningham| West Orange, New Jersey

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Iradys Rivero| North Bergen, New Jersey

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Deborah Dowe| Plainfield, New Jersey

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Evelyn Rudnicki | Rochelle Park, New Jersey

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Jimmy Armstead | Roselle, New Jersey

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Virgilio Rodriguez | Paterson, New Jersey

“I followed the instructions Gerald from Performance Property gave me and I proved to my lender that I can pay back my mortgage.”

John Nikoe | Linden, New Jersey

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Ravinder Thota | Jersey City, New Jersey

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Jim Armstead | Roselle, New Jersey

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Amoy Frost | South Orange, NJ

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David Brown | Rahway, New Jersey

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