The costs for construction materials continued to rise in September, with the selling prices of most materials reaching double-digit gains year-over-year, according to an analysis by the Associated General Contractors of America.
“Construction materials costs remain out of control despite a decline in some inputs last month,” stated Ken Simonson, AGC’s chief economist. “Meanwhile, supply bottlenecks continue to worsen.”
Lumber and plywood prices were one of the few categories that got a break, falling 12.3% over the past 12 months after reaching record-highs earlier this year.
Steel mill products increased 134% year-over-year, and plastic construction products rose 29.5%. Gypsum products grew 23%. Transportation and fuel costs spiked, with transportation of freight climbing 15%.
The full AGC report can be found here.
