Construction Materials Costs Are Expected to Rise

In spite of the fallout from trade wars, construction materials prices remained stable in 2019. That’s likely to change.

The prices of many construction materials may rise again in 2020.

“I think the lull in materials cost increases is close to ending,” says Ken Simonson, chief economist for the Associated General Contractors of America (AGC).

Despite trade tensions between the U.S. and nearly all of its major trading partners, the cost of many materials used to build apartments has remained relatively stable in 2019 (though subcontractors have been raising their bids in anticipation of materials prices rising). Even the cost of labor has been relatively stable, despite an extreme shortage of construction workers.

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