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Wednesday, 19 April 2023 / Published in Base4

Developers | The Latest On Construction Prices

Reading Time: 3 minutes

The latest construction update has arrived, and it’s all about the rising prices of building materials in most categories. Let’s look at what this means for the construction industry. Read on.

Price of inputs to construction materials

According to the latest Producer Price Index (PPI) report, building materials climbed 0.3% in March 2023. This comes after the index has increased for three consecutive months by a total of 1.6% but has been relatively stable over the past year.

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Concrete

Ready-mix concrete (RMC) prices continued their historic pace as the index increased 0.7% in March after gaining 0.9% and 0.6% in January and February, respectively.

Ready-Mix Concrete Prices

Softwood Lumber

The producer price index (PPI) for softwood lumber (seasonally adjusted) fell 4.0% in March–the eighth consecutive monthly decline.

Softwood Lumber Prices

Gypsum Building Materials

The producer price index (PPI) for gypsum building materials decreased 0.1% in March after increasing 0.4% the month prior.

Gypsum Building Materials Prices

Steel Mill Products

Steel mill products prices increased 1.2% in March after climbing 2.5% in February. This was the second monthly price increase since May 2022.

Transportation of Freight

The price of trucks, deep sea (i.e., ocean), and rail transportation of freight decreased by 0.8%, 0.5%, and 1.1%, respectively, in February.

We Help Developers Build Cheaper & Faster

We understand the market and are committed to helping developers and GCs navigate these challenging times. We believe in a PRODUCT mindset—bringing standardization and manufacturing principles to the AEC industry. We help developers, general contractors, and factories find better and cheaper ways to build through innovative technology, forward-thinking design, and offsite manufacturing.

BASE4 | The Fastest and Cheapest Way to Build in 2023

Projects are becoming harder to build for one reason—cost…

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Let’s talk about your next project!

 

Thank you,

Blair Hildahl
BASE4 Principal
608.304.5228
BlairH@base-4.com

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