Q2 2021, March Permit Authorizations Up 36% YoY, Lumber Costs Up 42% YoY, and Job Numbers Down 1.2% Year-over-Year
CoreLogic tracks construction cost for commercial, residential and agricultural construction of all types of goods (labor and materials) throughout the United States and Canada. Detail of this quarter’s research include:
- Authorizations for new housing permits continue to rise at 36% YoY in March.
- Labor costs continue to grow faster in the U.S. than in Canada, with many key construction labor costs growing by over 5% YoY.
- Confidence in commercial construction is improving, though still much lower than before pandemic.
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