Summary of Q4 2022:
Some costs decline while others continue to increase. Single-unit housing and the South continue to dominate permit approvals.
CoreLogic tracks construction costs for commercial, residential and agricultural construction of all types of goods (labor and materials) throughout the United States and Canada. Details of this quarter’s research include:
- Costs for lumber spiked in April 2022 and have continued to decline; they are now only 7% above what they were in January.
- PVC pipes, slab doors, asphalt shingles and felt continue to rise in cost.
- The South leads the nation in 2022 for number of building permit approvals, primarily due to Texas and Florida. Most permits have been for single-unit housing.
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