The Construction Cost Crunch

We all know that supply and demand affect home prices. Especially here in southwest Montana, new construction cannot keep up with the number of new residents moving into the area. What you may not realize is the increase in construction costs across the nation. According to the National Association of Homebuilders, lumber prices have increased a staggering 180%, meaning the price of the average new single-family home has increased by 24% since April of 2017. If you're interested in buying new construction, you can expect to pay more and have fewer concessions from new home builders, even if demand loosens. Reach out to your favorite ERA Landmark agent to help you navigate the new construction process. We're in your corner.

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