Gordian: Some Construction Costs Stabilized in Q2

Construction costs are beginning to stabilize in many areas of the industry. After the high volatility of the second quarter following the invasion of Ukraine and historic inflation, supply chains have begun normalizing and price inflation in some commodities has softened.

Gordian, the leading provider of data insights, technology and expert services for all phases of the building lifecycle, has just released its Q3 2022 updates to both the City Cost Index (CCI) and the RSMeans database of key building materials. While specific local markets may be exceptions to the overall national aggregate trends, here are some notable findings from the Gordian data:

Some costs moderating

  • Lumber prices in most categories have declined an average of 10% from peaks in Q2, although national prices in Q3 remain significantly higher than their pre-pandemic levels.
  • Interior Install categories — such as Paint, Flooring and Tile — declined an average of 6% over the last quarter.
  • Metal prices advanced slightly in Q3, although there are signs that many categories, such as copper, may decline in future quarters.

Other costs still climbing 

  • Drywall prices continued surging over the last two quarters, with average prices up nearly 23% from average prices in 2021.
  • Labor rates are up across the U.S. over the last 12 months, showing an average 6-8% growth from 2021 to 2022.

Events
will be held January 26th, 2023, Noon to 4 PM EST with Atlanta locals in person and rest of country virtual via Zoom.

Read more BELOW

 
January 26th, 2023
The 13th Annual Hybrid Summit will be held on January 26th, 2023 Noon to 4 PM EST.

Virtual Women in Construction: Building Connections was held on December 14th, 2022, 1 PM to 2 PM EST via a Zoom. 2023 Virtual Women in Construction TBD.

2023 Virtual Men’s Round Tables

2023 Men’s Round Table #1 will be held Q1, 2023


2023 Virtual Women’s Round Tables

2023 Women’s Round Table #1 will be held Q2, 2023

News

Hyatt builds portfolio with Dream Hotel acquisition

Hyatt Hotels has added a portfolio of 12 lifestyle hotels and 24 long-term management agreements over new properties to its roster through the acquisition of Dream Hotel Group on Thursday. Hyatt will incorporate the Dream Hotels locations into its Boundless Collection, and the Unscripted Hotels

Spplements/Podcast
See Website for Details