Buying New Construction? Prepare to Spend Over $18,600 More
The cost of lumber has zigzagged since the start of the pandemic. And after dropping substantially from previous highs in 2021, its price is back up again. That's caused construction costs to soar and made home renovations pricier for property owners to swing.
Recently, the National Association of Home Builders estimated that the average price for a new construction home is now $18,600 higher than normal due to higher materials costs. And that begs the question: Is new construction worth pursuing in an already inflated housing market?
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Source Fool.com
