Increasing Material Cost

Building material costs have increased between the end of December 2017 and now. An Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics data proved that there is an increased cost. To be specific there was a 9% increase in building materials since this time last year. It comes at about 1% a month between this year and last year. The big rising costs were in Iron and Steel, Steel Mill Products, and Softwood Lumber. These construction industry trends will continue so long as there is a decreased supply and increased cost for the supply.

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