Homeowners Insurance and the Rising Cost of Building Materials
Recent findings from the National Association of Home Builders (NAHB) confirmed that household construction costs have
surged over the past year. This rise in construction costs is directly tied to soaring building material expenses—namely, the price of lumber. According to the NAHB, current lumber costs are up 340% from 2020. What’s more, lumber prices have already risen by an additional 67% since the beginning of 2021.