Construction material costs on the rise
Prices for construction materials increased 1.2 percent in March compared to February, and increases will likely continue for several more months, according to an April 23 article from Reed Construction Data.
Costs for the nonresidential building sector increased 1.6 percent in the month, while single-family residential builders experienced increases of 0.5 percent.
The on-site cost increases reflect rising metal, oil and natural gas world market prices. The strong nonresidential market also has created a tight supply, pushing prices up even more, according to the article.
Flat glass prices were up 0.7 percent in the month compared to February, up 1.8 percent compared to the previous year, and up 5.1 percent compared to three years ago, according to the article.
Aluminum, edged down 0.5 percent for the month, but still sits 6.8 percent above where it did last year, according to the article.