Senior Living Construction Costs Brief Summer 2021

This special issue brief was prepared for the American Seniors Housing Association (ASHA) by Larry Graeve and Amy Burk of The Weitz Company.

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There have been significant swings in commodity prices over the past six months. Lumber was on the rise in early May but dropped in July. Steel has climbed steadily over the past 12 months, for example, coil stock, which is used to make metal studs and metal decks, is up 216%. Labor rates have risen moderately, but the shortage of skilled tradespeople persists.

Check out our Senior Living Construction Costs Report to see what to expect for the second half of 2021.