United States Avg Sale to List: Existing: Multi Family (2-4 Unit) data was reported at 97.400 % in Mar 2023. This records an increase from the previous number of 96.100 % for Feb 2023. United States Avg Sale to List: Existing: Multi Family (2-4 Unit) data is updated monthly, averaging 96.400 % from Jan 2012 (Median) to Mar 2023, with 135 observations. The data reached an all-time high of 100.400 % in Jun 2022 and a record low of 93.400 % in Jan 2012. United States Avg Sale to List: Existing: Multi Family (2-4 Unit) data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB069: Average Sales to List.

United States Avg Sale to List: New Construction: Multi Family (2-4 Unit) data was reported at 98.400 % in Mar 2023. This stayed constant from the previous number of 98.400 % for Feb 2023. United States Avg Sale to List: New Construction: Multi Family (2-4 Unit) data is updated monthly, averaging 98.100 % from Jan 2012 (Median) to Mar 2023, with 135 observations. The data reached an all-time high of 100.800 % in Jan 2022 and a record low of 93.800 % in Jan 2012. United States Avg Sale to List: New Construction: Multi Family (2-4 Unit) data remains active status in CEIC and is reported by Redfin. The data is categorized under Global Database’s United States – Table US.EB: Average Sales to List.

In the first quarter of 2025, San Francisco, Chicago, New York, and Honolulu were some of the U.S. cities with the highest housing construction costs. Meanwhile, Phoenix had one of the lowest construction costs for high-end multifamily homes at *** U.S. dollars per square foot and Las Vegas for single-family homes between *** and *** U.S. dollars per square foot. Construction cost disparities As seen here, the construction cost for a high-end multi-family home in San Francisco in the first quarter of 2024 was over ***** more expensive than in Phoenix. Meanwhile, there were also great differences in the cost of building a single-family house in New York and in Portland or Seattle. Some factors that may cause these disparities are the construction materials, installation, and composite costs, differing land values, wages, etc. For example, although the price of construction materials in the U.S. was rising at a slower level than in 2022 and 2023, several materials that are essential in most construction projects had growth rates of over **** percent in 2024. Growing industry revenue Despite the economic uncertainty and other challenges, the size of the private construction market in the U.S. rose during the past years. It is important to consider that supply and demand for housing influences the revenue of this segment of the construction market. On the supply side, single-family home construction fell in 2023, but it is expected to rise in 2024 and 2025. On the demand side, some of the U.S. metropolitan areas with the highest sale prices of single-family homes were located in California, with San Jose-Sunnyvale-Santa Clara at the top of the ranking.