California home-repair costs have surged by 40% over the past five years, driven by rising construction wages and the increased cost of materials. This jump is part of a broader trend of inflation in the state’s housing market, with home values also rising sharply. Nationally, repairs are 40% costlier since 2019 and increased 15% the previous five years. Read More
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Energy Prices Drive Construction Materials Costs 0.3% Higher in October
Construction input prices increased 0.3% in October compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today. Nonresidential construction input prices also increased 0.3% for the month. According to Associated Builders and Contractors, prices increased in all three energy subcategories last month. Natural gas prices increased by 29.3%, unprocessed energy materials prices rose 9.9% and crude petroleum prices advanced by 7.3%. Overall construction input prices are 0.2% lower than a year ago, while nonresidential construction…
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