Construction Costs April 2008-09
Mon, 06/29/2009 - 09:02
Price Change in Construction Costs from April 2008 to April 2009
What have we seen the past year, and what might we expect in the next several months?
Construction costs - much below 2008 peaks, but still at or above 2007
• Lower average prices: diesel, steel, copper, lumber
• Possible increases: concrete, asphalt, gypsum, wood products
• Non-Residential buildings 2009 costs below 2008, but above 2007
• Highway and street construction 2009 costs below 2008 and slightly above 2007
| Construction Costs - Year-over-year percent price changes: 4/08 - 4/09 | |
| Consumer price index (CPI-U) -0.7 | -0.70% |
| Producer price index (PPI) for finished goods | -3.70% |
| PPI for construction industries | -3.70% |
| PPI for highway and street construction | -9.10% |
| PPI for other heavy construction | -8.20% |
| PPI for nonresidential buildings | -4.30% |
| PPI for multi-unit residential | -2.20% |
| PPI for single-unit residential | -0.40% |
| New industrial building construction | 7.10% |
| New warehouse construction | 6.10% |
| New school construction | 11.50% |
| New office construction | 6.10% |
| Construction Cost Components - Year-over-year percent price changes: 4/08 - 4/09 | |
| Iron and steel scrap | -65.70% |
| Crude petroleum (domestic production) | -57.90% |
| #2 diesel fuel | -56.20% |
| Copper ores | -53.50% |
| Copper base scrap | -43.10% |
| Stainless and alloy steel scrap | -33.80% |
| Hot-rolled bars, plates, & structural shapes | -27.30% |
| Steel mill products | -25.40% |
| Copper and brass mill shapes | -25.10% |
| Aluminum mill shapes | -24.70% |
| Industrial natural gas | -23.80% |
| Plastic resins and materials | -10.70% |
| Lumber and plywood | -9.80% |
| Steel pipe and tube | -9.70% |
| Asphalt (at refinery) | -5.90% |
| Fabricated structural metal | -4.20% |
| Prestressed concrete products | -3.00% |
| Prefabricated metal buildings | -2.70% |
| Fabricated structural metal for buildings | -2.60% |
| Cement | 0.00% |
| Brick and structural clay tile | 0.20% |
| Sheet metal products | 0.40% |
| Fabricated steel plate | 1.50% |
| Precast concrete products | 1.70% |
| Insulation materials | 2.50% |
| Concrete products | 2.80% |
| Plastic construction products | 2.80% |
| Concrete block and brick | 3.10% |
| Ready-mixed concrete | 3.40% |
| Concrete pipe | 4.20% |
| Construction machinery and equipment | 4.40% |
| Gypsum products | 5.10% |
| Iron ore | 5.40% |
| Construction sand/gravel/crushed stone | 6.00% |
| Fabricated iron & steel pipe, tube, & fittings | 6.70% |
| Asphalt paving mixtures and blocks | 10.50% |
| Architectural and ornamental metalwork | 10.50% |
| Architectural coatings | 12.40% |
| Asphalt felts and coatings | 35.10% |
| Prepared asphalt & tar roofing & siding products | 40.40% |
Source: The Associated General Contractors of American, 5/15/09, Layton Construction
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