Builders reported cost increases of five percent or less for labor, materials and subcontractors, but up to a 24 percent rise for framing and truss materials. They also reported difficulty locating framing crews. Some foundation work, concrete, block/brick and backfill costs hae risen 13-18 percent.
The average price of a single-family home hit $468,318 this year, up from $345,800 in 2014, but builder profit was down .3 percent from 2013. The rise has more to do with costs than profit. ##
(Photo credit: housingwire)
