Summary Q4 2023:
Costs for lumber and plywood continue to decrease significantly this year. Single-family housing and the U.S. South continue to dominate permit approvals.
CoreLogic tracks construction costs for all types of goods (labor and materials) for commercial, residential, and agricultural construction throughout the U.S. and Canada. Details from this quarter’s research include:
- By November 2023, costs for lumber had decreased by 23% YTD in the U.S. and 26% YTD in Canada.
- Between August 2023 and November 2023, overall residential reconstruction costs in the U.S. and Canada changed by less than 2%.
- In 2023, the South continues to lead the U.S. for the number of building permit approvals, primarily due to applications in Texas and Florida. Most permits continue to be for single-family housing.
Learn more about Q4 trends in the full report.
