The cost breakdown for constructing a single-family home in 2024

In 2022, the average sales price of new single-family homes sampled by NAHB was $644,750 and includes costs for construction, the finished lot, financing, overhead and general expenses, marketing, sales commission, and profit. Total construction costs for the “average” new single-family home included in the survey was $392,241. 

In 2024, the average sales price of new single-family homes sampled by NAHB was $665,298 and total construction costs for the “average” new single-family home included in the survey was $428,215.

Among new builds included in the survey, that’s a +3.2% jump for average sales price and a +9.2% jump for total construction costs.

Note: Each category below includes “all the costs paid by a builder that go into a particular item, including labor costs paid directly by the general contractor, the cost of hiring subcontractors, and the cost of materials, however they are purchased.”

https://www.resiclubanalytics.com/p/the-cost-breakdown-for-constructing-a-single-family-home-in-2024