Summary of Q3 2022: Some costs decline, while others continue to increase. Single unit housing and the South dominate permit approvals.
CoreLogic tracks construction cost 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 and plywood spiked in April ’22 and have been in decline ever since, but cost is still elevated.
- 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 also been for single unit housing.
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