According to David Crowe, PhD., NAHB Chief Economist, material prices in a typical new home have increased five percent in the last six months. In addition, he says prices are up even more in the South and Southwest than the rest of the country.
Crowe reports that the increase in materials costs equates to an $8,500 increase in the cost of a new home. He said builders report increases in framing lumber, OSB, plywood, gypsum, trusses, ready-mix concrete, roofing materials, and cement.
Crowe said the information is the result of a survey of HBA members conducted by NAHB.
Read the complete report at builderonline.com by clicking here. Builderonline is the website for Builder, a magazine that each HBA member receives as a benefit of membership in the Home Builders Association.