Serving More Than 32,000 Real Estate Professionals in the

November 2018

West Coast region reports costliest contractor-built homes

Contractor-built homes cost nearly 80 percent more per square foot on the West Coast than in the East South Central division of the U.S., according to a survey by the National Association of Home Builders (NAHB).

The median price per square foot, excluding the value of improved lots, is $155 for contractor-built homes in the Pacific division, which encompasses Washington, Oregon, California, Alaska and Hawaii. At the lowest end of the median price spectrum, at $90 per square foot, is the region that includes Alabama, Kentucky, Mississippi and Tennessee.

NAHB estimates are based on the Survey of Construction (SOC) data using information from interviews of builders and owners of selected new houses.

Region	Median Contract Price Per Square Foot	Median SalePrice Per Square Foot
Pacific	$155	$153
New England	$150	$150
Mountain	$144	$115
Middle Atlantic	$126	$120
West North Central	$118	$107
East North Central	$114	$101
South Atlantic	$94	$96
West South Central	$93	$92
East South Central	$90	$86

Source: 2017 Survey of Construction (NAH Estimates)

NAHB noted highly variant land values cannot explain the regional differences in per square foot cots. "Higher and rising regulatory costs undoubtedly contribute to higher per square foot prices," they stated.

The builder analysis also explained the difference in square footage costs of custom homes versus spec homes (excluding improved lot values), suggesting buyers of custom homes tend to be willing to wait longer to move into a new home and are inclined to pay extra for pricier features and materials.

The Survey of Construction uses all completely finished floor space, including space in basements and attics with finished walls, floors, and ceilings. The calculations do not include a garage, carport, porch, unfinished attic or utility room, or any unfinished area of the basement.

Claims of Copyright Infringement & Related Issues

We respect the intellectual property rights of others. Anyone who believes their work has been reproduced in a way that constitutes copyright infringement may notify our agent by providing the following information:

Identification of the copyrighted work that you claim has been infringed, or, if multiple copyrighted works at a single online site are covered by a single notification, a representative list of such works at the site;
Identification of the material that you claim is infringing and needs to be removed, including a description of where it is located so that the copyright agent can locate it;
Your address, telephone number, and, if available, e-mail address, so that the copyright agent may contact you about your complaint; and
A signed statement that the above information is accurate; that you have a good faith belief that the identified use of the material is not authorized by the copyright owner, its agent, or the law; and, under penalty of perjury, that you are the copyright owner or are authorized to act on the copyright owner's behalf in this situation.

Upon obtaining such knowledge we will act expeditiously to remove, or disable access to, the material. Please be aware that there are substantial penalties for false claims.

If a notice of copyright infringement has been wrongly filed against you, you may submit a counter notification to our agent. A valid counter notification is a written communication that incorporates the following elements:

A physical or electronic signature of the poster;
Identification of the material that has been removed or to which access has been disabled and the location at which the material appeared before it was removed or access to it was disabled;
A statement under penalty of perjury that you have a good faith belief that the material was removed or disabled as a result of mistake or misidentification;
Your name, address, and telephone number; a statement that you consent to the jurisdiction of federal district court for the judicial district in which your address is located, or if your address is outside of the U.S., for any judicial district in which the service provider may be found; and that you will accept service of process from the complainant.

Notices of the foregoing copyright issues should be sent as follows:

By mail:
Northwest Multiple Listing Service
11430 NE 120th Street
Kirkland, WA 98034
United States
Attention: DMCA Designated Agent

By e-mail:
copyright@nwmls.com

If you give notice of copyright infringement by e-mail, an agent may begin investigating the alleged copyright infringement; however, we must receive your signed statement by mail or as an attachment to your e-mail before we are required to take any action.

This information should not be construed as legal advice. We recommend you seek independent legal counsel before filing a notification or counter-notification. For further information about the DMCA, please visit the website of the United States Copyright Office at: http://www.copyright.gov/onlinesp.