Prices of construction materials increased 20% in 2021, according to an analysis by the Associated General Contractors of America. Material prices were also listed as a top concern among 86% of contractors who responded to an AGC survey.
The price index for lumber and plywood accelerated 17.6% over 12 months.
“Costs may not rise as steeply in 2022 as they did last year but they are likely to remain volatile, with unpredictable prices and delivery dates for key materials,” stated Ken Simonson, AGC’s chief economist. “That volatility can be as hard to cope with as steadily rising prices and lead times.”
The full AGC report can be found here.
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