We signed a contract for a new home in the Phoenix area back in February (we were selected in a lottery by a nationwide builder). They said to expect a 5-6 month build time. We chose our floorplan and design center options within the first couple weeks and now we wait. First delay was in getting the city approval, then a delay in laying the slab due to concrete and labor shortages. We are at almost 4 months and still don’t have the foundation laid. I realize that with lumber, labor and appliance shortages, we are in for a long wait. We sold our old home easily and are renting a nice place but the rent is about 30% more than our mortgage was/will be. I know it will be worth the wait, the base price for the home we purchased has already increased by 60k and we are locked in to our sales price but our concern is more delays, spending extra money on rent and possible rising interest rates. Wondering if anyone is in same boat and what construction is like in other markets?