Many have expressed fears regarding further fluctuating prices for construction materials in the industry. Figures from 2020 until now, with 2022 seeing peak prices, have increased by an average of 19%. Monitored materials include wood, steel, concrete, masonry, electrical, and insulation.
Sources say over 80% of materials experienced price inflation since the pandemic and the fate of material costs is still difficult to gauge. Key commodities have seen minimally lowered numbers as of late. However, many industry professionals find the growing rates unnerving and continue to brace themselves for more change.
Click the full article below to read more on the anticipated rise or fall of construction materials and see what this might mean for you or your business.