Summary of Q1 2022: Costs Remain Inflated Since Start of Pandemic
CoreLogic tracks construction cost for commercial, residential and agricultural construction of all types of goods (labor and materials) throughout the United States and Canada. Detail of this quarter’s research include:
- Over the last year, residential reconstruction costs have grown over 12% in the U.S. and over 6% in Canada.
- Most of this growth occurred between Q2-21 and Q3-21, and costs have remained elevated.
- U.S. permit authorizations in March 2022 were at 7% total growth when compared to March 2021. Nationally, 5+ housing unit permits have seen a significant increase of 36%.
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