The 1.2% drop ↘ in materials costs 💲 in October “should be cheered by most contractors” Take a look 👀 at what the trends are saying.
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The flattening of material prices? Maybe and hopefully. But will the days of ensuring material escalation provisions are in your construction contract end? Likely not. No different that clauses dealing with supply chain impacts or pandemics. Here is why. It's a risk. A real risk that many experienced. And if you know it's a risk, and, in fact, a real risk, and you experienced the risk, you want to make sure your contract addresses the risk. https://lnkd.in/e-EfKTNU
Are We Finally Getting Relief from Price Escalation in Materials?
https://www.jdsupra.com/
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Create Surety relationships that enable Clients to be competitive & take advantage of opportunites for growth & profit
Relatively flat materials figures in recent months indicate contractors are finally experiencing relief from supply chain woes and price volatility, according to a new report. #constructionindustry #supplychain
Construction materials prices unchanged, signaling ‘stable’ costs ahead
constructiondive.com
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"Construction input prices, or how much it costs to build a given project, fell for the first time in more than 18 months on a year-over-year basis, but were still 39% higher than February 2020, before the COVID-19 pandemic sent supply chains reeling." Despite positive news of material prices decreasing last month, overall costs are over one third higher than before supply chain & labor shortage problems overwhelmed the construction sector. It's not only general contractors and developers that are facing this problem —the vast majority of subcontractors saw profitability fall despite increased revenue, a clear indicator that labor & material costs still loom across the industry. During these times it's crucial for prime builders and subcontractors to expand their network of AEC partners to gain access to alternative sources of labor and materials. https://lnkd.in/gcaX5JxR
Material prices are finally lower than a year ago
constructiondive.com
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Director at CEAD Architects | Architect & Urban Designer with a focus on sustainable design, housing and community projects
Some welcome respite for contractors and Clients as prices for some materials are seeing drops due to reduced housebuilding activity. Timber and steel are two areas where the drops seem most significant. It's worth noting that energy input costs will still be high for many suppliers so energy intensive industries will likely have less room for price reductions than others. Be interesting to see whether any of this will be enough to feed through to lower tender prices.
Materials prices plummet as housing demand slumps
https://www.constructionenquirer.com
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Despite an overall decrease in #construction costs, material prices are still fluctuating, making every penny of margin count. While we can’t help you negotiate lower prices on critical materials, but…we CAN help you protect your valuable assets at job sites and cut down on fuel costs. We’re here to make your work easier and more profitable. ➡️ Let us show you how: https://bit.ly/3PKiOn2
Inflation cools, but material prices remain high
constructiondive.com
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Selling Branch Manager I Full Cycle Recruiter I On-site Staffing I Account Manager I Talent Acquisition I P&L Management I Business Development Manager I Recruitment Consultant
🏗️ Exciting news for construction enthusiasts! 🌟 Construction input prices took a positive nosedive of 1.2% in October, a breath of fresh air for contractors. With overall construction costs now 1.1% lower than last year, there's a cost-saving celebration on the horizon. Anirban Basu, ABC's chief economist, sees this as a promising sign for slower price hikes and potential Federal Reserve interest rate reductions next year. 🚀💰 However, Ken Simonson from AGC adds a pinch of caution, reminding us that while cost pressures might have eased, they haven't disappeared entirely. As suppliers hint at possible price increases, let's celebrate the current victory while keeping an eye on the economic dance floor for any unexpected moves! 🌐🚧 https://lnkd.in/gDtEGHXV #ConstructionEconomics #BuildingSmart #CostEffectiveBuilding #constructionjobs #constructioncareers #constructionrecruitment
Construction input prices fall amid declining inflation
constructiondive.com
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I've been asked whether any construction input prices have dropped recently, and my answer is that it's a mixed bag. According to Associated Builders and Contractors (ABC), May saw the first month-to-month decrease in input pricing in 2024. Compared to 12 months ago we're still 2.1% higher, but a May decrease has provided some market optimism. Here's some of the specific commodity changes:
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Worth a refresh of your inflationary forecasts? Have a read…
“Aecom’s baseline forecast for tender prices is a 1% increase from Q1 2024 to Q1 2025, and a 2% rise from Q1 2025 to Q1 2026” – read the latest market forecast for the #construction #industry https://ow.ly/YGcT50ReNmb
Market forecast: Why prices for goods and services are still set for further increases
building.co.uk
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Industry Update 📉 Annual material prices have experienced a consecutive monthly decrease. Gain valuable insights on how this trend can impact your construction projects and unlock strategies to optimize your budget. Read more: https://lnkd.in/eeRMkJ8Y #construction #constructionindustry #building
Annual material prices trend lower for second straight month
constructiondive.com
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Construction input prices decreased 0.9% in May due to declines in energy prices and broader slowing inflation, according to an Associated Builders and Contractors’ analysis of U.S. Bureau of Labor Statistics data released Thursday. The drop marks the first decrease in input prices in 2024. However, both overall and nonresidential construction costs remain 2.1% and 2.2% higher, respectively, than a year ago, according to the report. “Construction input prices fell for the first time since December and, despite rising somewhat sharply over the first four months of 2024, are up just 2.1% year over year,” said Anirban Basu, ABC chief economist. “Second, the Producer Price Index’s economy wide measure of final demand prices fell in May. This, along with yesterday’s cooler than expected Consumer Price Index data, signals slowing inflation and that the Federal Reserve may begin to cut rates sooner than expected.”
Construction input prices drop for first time in 2024
constructiondive.com
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