Building prices account for 64.4% of the typical worth of a house, in response to NAHB’s most up-to-date Price of Building Survey. In 2022, the share was 3.6 factors decrease, at 60.8%. The most recent discovering marks a document excessive for development prices because the inception of the sequence in 1998 and the fifth occasion the place development prices represented over 60% of the whole gross sales worth.
The completed lot was the second largest price at 13.7% of the gross sales worth, down greater than 4 share factors from 17.8% in 2022. The share of completed lot to the whole gross sales worth has fallen consecutively within the final three surveys, reaching a sequence low in 2024.
The common builder revenue margin was 11.0% in 2024, up lower than a share level from 10.1% in 2022.
At 5.7% in 2024, overhead and common bills rose when in comparison with 2022 (5.1%). The rest of the typical dwelling sale worth consisted of gross sales fee (2.8%), financing prices (1.5%), and advertising prices (0.8%). Advertising and marketing prices had been basically unchanged whereas gross sales fee and financing prices decreased in comparison with their 2022 breakdowns.
Building prices had been damaged down into eight main levels of development. Inside finishes, at 24.1%, accounted for the biggest share of development prices, adopted by main system rough-ins (19.2%), framing (16.6%), exterior finishes (13.4%), foundations (10.5%), web site work (7.6%), remaining steps (6.5%), and different prices (2.1%).
Discover the interactive dashboard beneath to view the prices and share of development prices for the eight levels and their 36 parts.
Desk 1 reveals the identical outcomes because the dashboard above in desk format. Please click on right here to be redirected to the total report (which incorporates historic outcomes again to 1998).
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