Cost of New Construction Rising

Cost of New Construction Rising

According to a report from the  National Association of Home Builders, the cost of building a new home is rising far faster than inflation.

The price of construction lumber is up over 30% from a year ago. Interior wallboard and cement are also increasing in price. These increases will push up the cost of building a new home significantly.

As a result of the expected increase in the price of a new home, it is expected that over the next year, the price of existing homes will also see a strong increase.

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