Construction costs climb for 5th straight month
Construction Dive
AI Article Summary
Construction costs have risen for the fifth consecutive month, largely driven by increasing material prices. These rising costs are making procurement processes unpredictable for contractors, according to Macrina Wilkins, a senior research analyst at the Associated General Contractors of America.
What This Means for Canadian Contractors
For Canadian builders, this means budgeting and forecasting may become more challenging as they navigate volatile material costs. Prefabrication might offer some stability by reducing on-site resource demands, while contractors need to closely monitor supply chain issues. This ongoing trend may require adjustments in project timelines and funding strategies.
