Q3 2024 Report

As the construction industry moves into the third quarter of 2024, this report provides a detailed analysis of material pricing trends. Leveraging insights from Gordian’s experts, as well as Flintco’s preconstruction specialist, Klint Kimball, and DPR Construction’s supply chain leader, Tim Jed, we examine the complex interplay of challenges and opportunities. The overall stability in material prices contrasts with sector-specific fluctuations, stressing the need for industry leaders to adapt and remain resilient in a dynamic environment.

In Q3 2024, the construction material pricing landscape has exhibited patterns similar to those observed in the previous quarter. Adam Raimond, Construction Index Manager at Gordian, notes that while the overall building model has not seen significant price changes, specific sectors have experienced notable movements. Structural steel prices continue to decline, with prices per ton decreasing nearly 10% over the past three months. This trend is corroborated by industry experts who foresee continued price declines due to stable supply conditions.

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