Price of Construction Materials Declines in November, ABC Predicts Moderate Increases in Early 2019

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Construction materials prices fell 1.8 percent in November, according to the Associated Builders and Contractors’ recent analysis of U.S. Bureau of Labor Statistics data. Despite the monthly decline, materials prices are still 5.3 percent higher than they were on a year-over-year basis. Nonresidential construction input prices fell 1.7 percent for the month, and are up 5.8 percent compared to the same time last year. Prices declined in five of 11 subcategories, with crude petroleum (down 29.5 percent) and unprocessed energy materials (down 11.5 percent) experiencing the largest decreases. Only natural gas recorded a substantial increase in price: up 15 percent … Read more

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Construction Material Costs in March Outpace Contractor Pricing

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Double-digit price increases for key construction materials pushed up construction costs in March, while the prices charged by contractors remained moderate, according to a new analysis of federal producer price data released by Associated General Contractors of America. Association officials urged policymakers to avoid adopting restrictions on international trade that would add to materials costs and potentially drive up the price of infrastructure, buildings and new homes and apartments. “Prices have jumped in recent months for diesel fuel, steel, copper, wallboard and lumber—materials essential for houses, nonresidential buildings and infrastructure projects,” said Ken Simonson, the association’s chief economist. “Contractors generally … Read more

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Report Expects Chicago to Lead in 2016 Construction Cost Increases

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CHICAGO, Ill. – After construction costs increased 4.6 percent in 2015, the Chicago, Illinois non-residential construction market can expect costs to rise 3.5 percent to 4 percent in 2016, according to Mortenson Construction’s Construction Cost Index for Chicago. Of the six major markets that Mortenson measures, only Denver, Colorado and Seattle, Washington can expect comparable increases in 2016 following a 4.2 percent cost increase for Denver and 3.6 percent increase for Seattle last year. “After lagging compared to other cities in the early years after the 2008 recession, the Chicago construction market continues to recover,” says Dennis McGreal, chief estimator … Read more

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