Percentage change in construction costs year-over-year
Rising construction costs have contributed the erosion of housing affordability
-11.0
-10.0
-9.0
-8.0
-7.0
-6.0
-5.0
-4.0
-3.0
-2.0
-1.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0%
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
Change in labor costs (YoY)
Change in materials cost (YoY)
