Building material prices continue to rise because of reduced manufacturing capacity and increased demand from new housing starts. Anyone thinking of building or remodeling needs to carefully consider their material choices as prices have gone up…dramatically in some cases. 
Building Material Prices Going Forward

Additional residential building cost increases are inevitable over the near term as home building heats up in the U.S.  According to leading economists, the predicted increases going forward are as follows…

2013 – Material Cost Increases of 2 to 4%, Labor Cost Increases of 2 to 3.5%2014-2017 – Material Cost Increases of 3 to 8%, Labor Cost Increases of 2-4%

For a modestly priced home of $200,000, typical building costs will be in the $120,000 neighborhood.  If actual cost increases come in somewhere in the middle of the predictions at 5.75%, building costs will rise $6,900 per home this year.

Building material prices are going up…that’s a fact.  However with the proper planning, you can lessen the affect they have on the overall cost of your home!