Q3 2023 Report

Over the past few years, construction material prices have seen significant fluctuations—ups, downs, twists and turns—with some material prices spiking while others tumble. In a year-over-year summary (2022-2023), Gordian determined that 82% of materials experienced a significant increase, climbing 19% on average. Material prices have been influenced by various factors, such as changes in tariffs and production costs, including increased wages, labor shortage, global economic conditions, and supply and demand, especially during the height of the pandemic. Overall, these recent years have been characterized by a volatile market for building and construction materials, and AEC professionals and real estate developers need to stay up-to-date with market trends and pricing changes to make informed decisions about their projects. 

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