Construction Materials Prices Remain Flat in March
Prices for construction materials were flat in March, as plunging diesel fuel and metals prices offset increases in items used in new housing and nonresidential building renovations, according to a recent analysis of new federal figures released by the Associated General Contractors of America.
“Thanks to a recent, sharp drop in diesel fuel prices last month—along with continuing declines in steel, copper and aluminum prices—overall construction costs were unchanged from February and up only 0.9% over the past year,” said Ken Simonson, chief economist for the construction trade association. “However, building contractors had to absorb another month of increases in the cost of lumber and plywood, gypsum products, construction plastics, paint and roofing materials.”