Double-digit annual cost increases persist for several materials despite recent price declines for some; association officials say Administration’s approach to Buy America rules is contributing to price inflation
The price of materials and services used in nonresidential construction increased 0.5 percent from March to April, while an index that measures contractors’ bid prices declined 0.3 percent, according to an analysis by AGC.
Diesel fuel, concrete and gypsum products continue to post steep one-month and year-over-year price increases, while prices for lumber and steel mill products tumble compared to year-ago levels
Contractors encountered a wide range of price changes for key construction inputs in January, with steep increases for fuel, concrete and gypsum products offsetting sharp declines in lumber and steel prices, according to an analysis by the Associated General Contractors of America of government data released Feb. 16.
Following President Joe Biden’s State of the Union speech on Feb. 7, the White House Office of Management and Budget released proposed guidance to boost the use of American-made goods in infrastructure projects, including airports, Coast Guard housing, renovations to federal buildings and other structures funded through the Bipartisan Infrastructure Law.
New data shows the construction industry continues to struggle to offset rising prices for materials and subcontractor services, as price decline in latest month fails to offset annual cost increases
The price of materials and services used in nonresidential construction continued rising at a double-digit rate in November from a year earlier, propelled by outsized increases in the cost of a variety of building materials, according to an analysis by the Associated General Contractors of America of government data released Dec. 9. Association officials noted that contractors are having to pay more both for materials and for the subcontractor services they need to finish most projects.
Recent increases drove up prices of diesel fuel, building and paving materials, outweighing decreases in metals and lumber costs, while producers have implemented or announced further price hikes.
In the Federal Register held on Wednesday, May 25, the DOT published a Temporary Waiver of Buy America Requirements for Construction Materials applicable to funding awards for projects funded under the recently enacted Bipartisan Infrastructure Law through any U.S. Department of Transportation subagency.
Every day, people live and work in buildings solidified by concrete foundations without recognizing the potential that material has in not only creating a more sustainable industry, but a more sustainable world.
This carbon offset program, whose theme is “Designing with more freedom by engineering less impact,” can help to decrease the environmental impact of buildings and achieve better green building certification ratings.
The cost of goods and services used in construction climbed by a record-setting 4.3 percent in May and 24.3 percent over the past 12 months, jeopardizing contractors’ solvency and construction workers’ employment.