Posted in Industry News
Home Building Costs in 2013
The National Association of Home Builders recently released their latest construction cost survey with details on single-family home construction costs in 2013. According to the survey, the average home covered 2,607 square feet of finished area on roughly 14,300 square feet of land and sold for approximately $400,000.
About 62 percent of a home’s sale price went toward construction costs in 2013, up from 59 percent in both 2009 and 2011. Finished lot costs accounts for the second largest share of the sale figure, which came in at 19 percent, down from 22 percent in 2011. The remaining percentage of sales goes toward overhead and general expenses, sales commission and financing and marketing costs.
Additionally, builder profits rose to 9.3 percent in 2013, up from an all-time low of 6.8 percent in 2011.
Read the full article at NAHB here.
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