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Replacement Costs
Hello!
I am an Appraiser Assistant in the Northern Oregon Coast area.
One thing I have noticed is the difficulty of establishing evidence that proves an increase in replacement costs in terms of our cost approach. Does anyone know of any resources that can be used to help establish confident sources of evidence in terms of current construction materials costs?
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2 Replies
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Ukiah,
That is a great question we are seeing asked a lot. We interviewed Robert Carroll the chair of the single family finance committee at NAHB to discuss that topic. https://www.youtube.com/watch?v=5X5IU3Gdo1c. We recorded that in march though so even his numbers he used have increased since then.
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The Federal Reserve publishes economic data which can be helpful. The CPI and PPI are good overall inflation trackers, but there are subsets by industry. This one is helpful and can put some solid data behind the recent increase in building costs: https://fred.stlouisfed.org/series/PCU44414441
I hope this helps!