Habitat for Humanity builds affordable housing as inflation keeps prices high

COLUMBIA, Mo. (KMIZ)

Habitat for Humanity volunteers were working in the sweltering summer heat on Tuesday to build a home for a family they don't even know.

Tuesday's volunteers were with Foundation Recovery Systems, so Josh Dewese -- one of the volunteers -- said they know how expensive building a house can be under normal circumstances.

"That's the big struggle with the Habitat house right now, is material costs are really high," Dewese said. "And if they can cut on labor costs by having volunteers come out that definitely helps out the project."

The project Dewese worked on is off Brown Station Road in North Columbia. Dewese said when the project is done it will have over 100 houses.

The most recent inflation report shows inflation increased by over 9% in the past year. Inflation is even worse for building materials. According to the National Association of Home Builders, the cost of building materials increased over 20% in the past year and 33% since the start of the pandemic.

But the housing market has been difficult for anyone looking for a home -- regardless of whether it's new or old. President of the Missouri Realtors Board John Mayfield said it's a seller's market, but that could change soon.

"It is a seller's market will probably continue to be a seller's market for some time only because there is a shortage of inventory however, prices are beginning to come down a little bit," Mayfield said. "So that's helping buyers be able to find more affordable housing in the marketplace."