Homewyse Improvements and Enhancements - July 2022

Labor Rate and Material Cost Updates

The cost estimating calculators at homewyse.com now reflect the following changes:

• Labor Rate Increases Updates include higher wages for home construction, remodeling and maintenance professionals. Annual changes range from 4.3% to 10.8% depending on trade profession, reflecting overhead cost increases and labor supply and demand imbalances that continue through mid 2022.
• Material Increases Updates include higher material unit prices for roofing, insulation, appliances, tile and coatings. Annual increases have been substantial, ranging from 3% to over 18%. Lumber and sheet goods pricing have declined since April 2021 highs.