Cost to Build a New Home is Increasing
Building material cost increases lead to higher home prices
Construction forecast analysts predict that new home costs will rise by as much as 5% this year, driven by price increases that can't be held back - and new home builders are already seeing increased costs for building supplies that will impact the prices they will need to charge for the homes they build.
Manufacturers all over the world have steadily been raising prices on products used throughout the construction process, such as*:
- · Fuel
- · Drywall
- · Roofing
- · Windows
- · Siding
- · Aluminum
- · Vinyl
- · Lumber
Home builders across the nation are raising prices due to these rising material costs.
Stanton Homes is working in partnership with our building suppliers to keep costs down as long as possible. But world-wide conditions regarding raw materials such as petroleum products, steel, wood and composites are hitting our suppliers hard - and there are many costs our suppliers cannot control.
This graphic shows just one example of essential products increasing in cost.
*These price increases are detailed in the Producer Price Index, Bureau of Labor Statistics, US Department of Labor, Federal Reserve Board, Census Bureau, and new home builders are receiving letters with price increases that continue to go up every month.
Finding Your New Home in the Raleigh Area
Stanton Homes makes it easy! We'll guide you through the entire process - select from thousands of different floor plans, and hundreds of different locations, with a focus on new custom homes in the upper $100s to the $500s. Custom design build options available too!
Call 919-278-8070 or visit www.StantonHomes.com to find out more about new homes in the Raleigh area today.
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Articles copyright Stanton Homes 2006-2011. Unauthorized use is not permitted. Provided for informational purposes only, no claims are made by Stanton Homes regarding the validity of any statements. Please note: all listing information per MLS, and current as of posting date. Information subject to change. Stanton Homes does not make claims to ownership of any lot listings, but can work with homebuyers to purchase available lots and build. Home plans to be approved on an individual basis, subject to neighborhood restrictive covenants and lot restrictions. Ask for further information regarding any community, lot or floor plan. Photos represent typical homes and details of each neighborhood, to help highlight different options available in the Raleigh/Triangle area. No claim of ownership is made to homes or land pictured.
