BNI reports that construction material costs continue to rise
VISTA, Calif, April 13, 2018 – According to BNI’s latest market data, construction material costs, which showed a strong uptick in 2017, continue to rise in the first quarter of 2018. Construction commodities remain up, while some still show double-digit gains. Fuel will remain high while the refineries in Texas prepare for the summer production, although the roller coaster price of crude oil may continue to keep prices high. Materials are up 4-5% for the year and appear to be continuing to rise.
“The construction economy is still good,” states BNi President, Bill Mahoney. “Commercial construction is strong, while residential is still in the positive territory as housing prices are still moving upward due to a lack of inventory and pent-up demand.”
Year over year increases further validates this trend as initiatives from the government continue to drive the growing number of construction projects. Expect to see rise in demand from the construction section as an emphasis is placed on costs, green building and energy efficiency to drive growth and benefit the market.
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BNi Building News, a Design Cost Data Company, is one of the most comprehensive and reliable sources for construction data and trends for over 70 years. As an established premier publisher to the construction industry, BNi assures the most current and relevant information available through the collaboration of key leader s in the areas of architecture, engineering and construction along with various government agencies. Since 1946, BNi works very closely with code developers such as the National Fire Protection Association (NFPA), the American Society of Plumbing Engineers (ASPE), and the American Public Works Association (APWA). BNi takes pride in providing the highest level of service and committed to doing whatever it takes to meet the needs of the industry.
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