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New Home Costs Soar Amid Supply Strains | Buffalo News
Builders face rising material costs—especially lumber and concrete—driven by volatile petroleum prices, with more increases expected before December. Beyond materials, strict regulations, energy standards, insurance, and testing can add over $130K to a home’s final price, tightening affordability. As existing home prices creep toward new builds, customization becomes a key draw for buyers. Legislative efforts like the “Let Them Build” agenda aim to streamline construction, but builders report slow progress despite appreciation for collaboration. Despite cost pressures and slower new…
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