Construction Activity Is Picking up
And so are claims…according to a joint release on new residential construction in January 2015 from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, privately-owned housing units increased 8.1 percent and new housing starts increased 18.7 percent above the January 2014 estimates. The release of new residential sales of single-family homes indicated an increase of 5.3 percent above the January 2014 estimate.
We are seeing an uptick in claims. Builders and developers are still attempting to reduce costs and often select lower-cost bids which could result in the use of poor materials and unskilled laborers. As a result, homeowners are vulnerable to purchasing properties with defective designs and faulty workmanship. The end result- a lengthy and complex process in order to pinpoint liability and recover funds for the cost of repairs.