Hamptons, New York's summer playground for Wall Street execs and Hollywood celebrities, has an extremely tight housing inventory -- following two years of city-dwellers fleeing cities for the cozy beach town. During the pandemic, residents expanded backyards and many desired luxury pools. There has been a backlog of pool building, with some residents waiting at least one year or more for their backyard oasis.
Pools and spas are in high demand that has inundated pool builders in the Hamptons. The pool industry has never had this much demand in the area, mainly due to the work-at-home lifestyle and influx of new residents.
Greg Darvin, the owner of East Hampton, New York-based company, Pristine Pools, told Bloomberg that massive backlogs and long waitlists would persist for the next few years. "If you haven't planned your 2023 pool yet, you're too late," he said.
Before the pandemic, Darvin said clients wouldn't commit until they were ready for a new pool. "Now we book one year ahead, and we immediately go into hard contract," he added.
Supply chain shortages and soaring material costs have also been an issue. "Now we buy anything we can find and store it," he added.
The high-end pool market hasn't slowed down (yet) and could remain robust through 2023. With so much pool building demand pulled forward in the last few years, the question remains what happens after 2024.