CoreLogic® monitors a wide variety of construction materials for the commercial and agricultural building industry. A few of this quarter’s highlights are:
In Q4 2021, the average for U.S. building materials decreased by -4.2%. For labor, the average wage rate increased by 0.7%, based on construction trade contracts that were renewed during the quarter.
The average change for Canadian building materials decreased by -3.4% over the quarter, for labor, the average wage rate increased by 0.8%, based on construction trade contracts that were renewed during the quarter.
CoreLogic® monitors a wide variety of construction materials. A snapshot of some of the most common material elements is listed below:
| United States | Canada | |||
| Quarter | Year | Quarter | Year | |
| Aluminum Conduit | 11.5% | 29.1% | 3.1% | 11.3% |
| Asphalt Shingles | 3.6% | 7.0% | 3.6% | 5.9% |
| Concrete Block | 2.4% | 4.9% | 2.2% | 4.7% |
| Drywall | 3.8% | 6.7% | 2.1% | 3.6% |
| Felt Paper | 4.6% | 8.6% | 4.3% | 8.4% |
| Galvanized Pipe | 19.6% | 39.0% | 17.8% | 31.0% |
| Lumber | -30.0% | 26.1% | -34.6% | 18.8% |
| Plywood | -35.7% | 62.0% | -24.4% | 57.1% |
| Ready Mix | 2.4% | 6.4% | 2.1% | 7.7% |
| Rebar | 13.5% | 27.6% | 16.1% | 23.3% |
| Steel Deck | 28.3% | 45.3% | 11.7% | 20.0% |
| Steel Stud | 19.4% | 40.5% | 11.8% | 22.8% |
| Structural Steel | 13.1% | 30.2% | 10.1% | 19.2% |
| 1/2″ Copper Pipe | 22.8% | 65.9% | 19.5% | 33.9% |
| National Average | Commercial | Agricultural |
| United States | 0.3% | 2.1% |
| Canada | 0.2% | 1.7% |
We monitor demographics and econometric statistics, government indicators, and localization requirements, including market trends from nearly 3,000 unique economies in the United States, and over 100 in Canada.
To ensure that our clients receive the most current building material and labor costs, the CoreLogic data team continuously researches hard costs such as labor, material and equipment , including mark-ups. Our research also covers soft cost such as taxes and fringes for reconstruction work performed for the insurance industry in the United States and Canada. We monitor demographics and econometric statistics, government indicators, and localization requirements, including market trends from nearly 3,000 unique economies in the United States, and over 100 in Canada.
In addition, we validate cost data by analyzing field inspection records, contractor estimates, phone surveys and partial and full loss claim information. For more information, or for further explanation, please contact your sales consultant or account manager.
NOTE: The cost information in this bulletin is only intended to give you a general sense of reconstruction cost trends in North America. You should NOT advocate using these factors when adjusting renewal values for specific locations or across your book of business. Please note that the building material and labor cost trends presented in this bulletin are broad averages derived from our research of construction trades and building materials.7.0
In Q4 2021, the average for U.S. building materials decreased by -4.2%. For labor, the average wage rate increased by 0.7%, based on construction trade contracts that were renewed during the quarter.
CoreLogic monitors a wide variety of construction materials for the commercial and agricultural building industry. A snapshot of some of the most common material elements is listed below:
| US Quarterly Material Cost Changes | 3Q19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q21 | 2Q21 | 3Q21 | 4Q21 |
| Aluminum Conduit | 0.1 | 0.6 | 0.6 | 1.0 | -1.0 | 2.0 | 2.1 | 7.2 | 5.7 | 11.5 |
| Concrete Block | 0.4 | 0.8 | 1.0 | 0.7 | 0.6 | 0.7 | -0.4 | 0.5 | 2.3 | 2.4 |
| Drywall | 0.3 | 0.7 | -0.5 | -0.1 | 0.0 | 0.7 | -0.1 | 1.5 | 1.4 | 3.8 |
| Galvanized Pipe | 0.8 | 0.5 | 0.5 | 0.5 | 0.6 | 0.3 | 0.0 | 2.3 | 13.6 | 19.6 |
| Ready Mix | 1.5 | 0.9 | 0.7 | 1.0 | 0.2 | 1.7 | 0.6 | 1.7 | 1.5 | 2.4 |
| Rebar | 0.5 | -0.1 | 0.8 | -0.1 | 0.4 | 0.1 | 0.6 | 3.2 | 8.3 | 13.5 |
| Steel Deck | -0.3 | 0.0 | 0.4 | 0.6 | 0.1 | 0.8 | 0.6 | 2.6 | 9.7 | 28.3 |
| Steel Stud | 0.1 | 1.5 | 0.2 | 0.6 | 0.6 | 0.8 | 0.4 | 5.4 | 11.2 | 19.4 |
| Structural Steel | -1.3 | -0.8 | -0.3 | -0.8 | -0.1 | 0.3 | 0.6 | 5.6 | 8.3 | 13.1 |
| ½” Cooper Pipe | -0.3 | -1.4 | -0.4 | -0.4 | -0.3 | 0.3 | 1.0 | 11.6 | 19.9 | 22.8 |
The table below provides a state by state snapshot of the changes in reconstruction costs for commercial and agricultural buildings.
| State | Commercial | Agricultural |
| Alabama | 1.00% | 3.32% |
| Arizona | -0.21% | 0.58% |
| Arkansas | 1.11% | 3.28% |
| California | 0.34% | 1.72% |
| Colorado | -1.18% | -0.01% |
| Connecticut | -0.64% | 0.83% |
| Delaware | 0.57% | 1.40% |
| District of Columbia | -0.07% | 0.79% |
| Florida | 1.10% | 2.93% |
| Georgia | 1.42% | 3.82% |
| Idaho | 0.66% | 1.96% |
| Illinois | -0.59% | 1.38% |
| Indiana | 0.13% | 1.35% |
| Iowa | -0.04% | 2.52% |
| Kansas | 1.11% | 2.45% |
| Kentucky | 0.77% | 2.55% |
| Louisiana | 0.73% | 2.51% |
| Maine | -0.10% | 1.72% |
| Maryland | 0.35% | 2.39% |
| Massachusetts | 0.11% | 1.85% |
| Michigan | 1.21% | 3.01% |
| Minnesota | 0.18% | 2.27% |
| Mississippi | -0.07% | 1.94% |
| Missouri | -0.65% | 1.02% |
| Montana | -0.78% | 1.22% |
| Nebraska | -0.82% | 1.16% |
| Nevada | -0.31% | 0.60% |
| New Hampshire | 1.27% | 3.37% |
| New Jersey | 2.55% | 3.09% |
| New Mexico | -0.23% | 1.69% |
| New York | 0.27% | 1.60% |
| North Carolina | 1.01% | 2.67% |
| North Dakota | -0.08% | 2.28% |
| Ohio | 0.12% | 1.90% |
| Oklahoma | -0.37% | 1.78% |
| Oregon | 0.43% | 2.61% |
| Pennsylvania | 0.79% | 2.27% |
| Rhode Island | -0.59% | 1.10% |
| South Carolina | 2.25% | 3.94% |
| South Dakota | -0.13% | 1.39% |
| Tennessee | 1.02% | 4.00% |
| Texas | 0.00% | 2.30% |
| Utah | 0.37% | 2.61% |
| Vermont | 2.64% | 4.25% |
| Virginia | 0.45% | 2.58% |
| Washington | 0.03% | 1.97% |
| West Virginia | -0.19% | 1.47% |
| Wisconsin | 0.05% | 2.49% |
| Wyoming | -0.69% | 1.18% |
| Alaska | -0.83% | 0.83% |
| Hawaii | 1.88% | 1.30% |
The average change for Canadian building materials decreased by -3.4% over the quarter, for labor, the average wage rate increased by 0.8%, based on construction trade contracts that were renewed during the quarter.
Canada Quarterly Material Cost Changes | 3Q19 | 4Q19 | 1Q20 | 2Q20 | 3Q20 | 4Q20 | 1Q21 | 2Q21 | 3Q21 | 4Q21 |
| Aluminum Conduit | 1.9 | 1.5 | 0.8 | 1.1 | 0.1 | 0.6 | 0.0 | 4.5 | 3.4 | 3.1 |
| Concrete Block | 1.1 | 0.7 | 0.7 | 0.4 | 0.1 | 1.1 | 0.1 | 0.6 | 1.7 | 2.2 |
| Drywall | 1.2 | 0.8 | 0.3 | 0.1 | 0.2 | 0.4 | 0.4 | 0.2 | 0.9 | 2.1 |
| Galvanized Pipe | 1.2 | 1.9 | 1.6 | 1.6 | 1.3 | 1.7 | 1.5 | 1.9 | 7.6 | 17.8 |
| Ready Mix | 0.8 | 1.1 | 0.0 | 2.2 | 1.5 | 2.5 | 2.0 | 2.3 | 1.0 | 2.1 |
| Rebar | -1.6 | -1.6 | -0.6 | -1.1 | 0.2 | -0.5 | 0.2 | 2.0 | 3.9 | 16.1 |
| Steel Deck | 0.9 | 0.8 | 1.7 | 0.8 | 1.1 | 1.4 | 0.4 | 2.7 | 4.3 | 11.7 |
| Steel Stud | 1.1 | 0.7 | 0.9 | 0.9 | 1.0 | 0.8 | 0.4 | 1.7 | 7.6 | 11.8 |
| Structural Steel | 0.8 | 0.3 | 0.5 | 0.6 | 0.3 | 0.2 | 0.3 | 3.6 | 4.2 | 10.1 |
| ½” Cooper Pipe | 0.4 | 1.0 | 1.8 | 1.5 | 0.4 | 0.5 | 0.2 | 2.2 | 9.5 | 19.5 |
The table below provide a province by province snapshot of the changes in reconstruction costs for commercial and agricultural buildings.
| Province | Commercial | Agricultural |
| Alberta | -0.12% | 1.45% |
| British Columbia | 0.25% | 1.97% |
| Manitoba | -0.85% | 1.67% |
| New Brunswick | -0.59% | 0.75% |
| Nova Scotia | 0.30% | 1.52% |
| Ontario | -0.02% | 1.54% |
| Quebec | 0.70% | 1.52% |
| Saskatchewan | 0.22% | 3.78% |
| Newfoundland and Labrador | 1.09% | 2.98% |
| Prince Edward Island | 2.44% | 4.45% |
