Solutions

Commercial Product Bulletin

4th Quarter 2018

Overview

Commercial Bulletin Highlights

CoreLogic® monitors a wide variety of construction materials for the commercial and agricultural building industry. A few of this quarter’s highlights are:

    • In Q3 2018, the average for U.S. building materials increased by 2.8%.  For labor, the average wage rate increased by 0.8%, based on construction trade contracts that were renewed during the quarter.
    • The average change for Canadian building materials increased by 2.1% over the quarter, For labor, the average wage rate increased by 1.2%, based on construction trade contracts that were renewed during the quarter.

    CoreLogic® monitors a wide variety of construction materials for the residential building industry. A snapshot of some of the most common material elements is listed below:

                                     United States                    Canada
     QuarterYearQuarterYear
    Aluminum Conduit2.0%12.5%0.7%0.6%
    Asphalt Shingles1.0%0.8%1.1%2.8%
    Concrete Block1.2%3.3%2.0%4.8%
    Drywall1.6%5.5%3.4%9.6%
    Felt Paper0.3%-0.2%0.3%4.4%
    Galvanized Pipe5.9%6.2%-0.1%-4.5%
    Lumber8.1%19.9%8.8%19.4%
    Plywood4.5%30.3%5.5%24.3%
    Ready Mix-1.0%2.7%-3.7%0.0%
    Rebar8.1%12.3%7.4%9.4%
    Steel Deck6.2%9.1%0.8%1.7%
    Steel Stud7.3%13.1%4.7%7.3%
    Structural Steel11.9%16.9%11.5%14.2%
    1/2″ Copper Pipe-0.3%-3.3%0.2%-1.7%

    National Average

    Building Construction Index
    Q3 2018

    National AverageCommercialAgricultural
    United States1.5%2.2%
    Canada1.7%2.4%

    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.

United States

U.S. Regional Weighted Commercial Cost Changes

 

In Q3 2018, the average for U.S. building materials increased by 2.8%, 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 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

4Q161Q172Q173Q174Q171Q182Q183Q18
Aluminum Conduit-0.40.20.43.23.83.03.12.0
Concrete Block0.50.40.61.00.50.70.91.2
Drywall0.30.52.00.30.20.53.21.6
Galvanized Pipe-0.9-0.6-0.10.50.1-0.10.35.9
Ready Mix-0.12.61.0-0.5-0.13.60.2-1.0
Rebar0.61.20.30.2-1.80.75.28.1
Steel Deck-0.30.61.80.3-0.10.32.56.2
Steel Stud1.41.42.20.21.01.42.97.3
Structural Steel0.30.32.5-0.4-1.1-0.35.911.9
½” Cooper Pipe-0.13.04.80.7-2.8-0.80.7-0.3

U.S. State by State

Building Construction Index
Q3 2018

The table below provides a state by state snapshot of the changes in reconstruction costs for commercial and agricultural buildings.

StateCommercialAgricultural
Alabama1.97%2.52%
Arizona1.99%2.84%
Arkansas1.77%3.00%
California2.05%2.75%
Colorado1.05%1.47%
Connecticut1.51%2.55%
Delaware1.06%1.50%
District of Columbia2.22%2.60%
Florida2.11%3.28%
Georgia1.77%2.47%
Idaho1.56%2.35%
Illinois1.27%1.67%
Indiana1.42%2.31%
Iowa0.93%1.88%
Kansas1.54%1.98%
Kentucky1.49%2.22%
Louisiana2.07%3.09%
Maine1.34%1.74%
Maryland1.28%1.99%
Massachusetts0.94%1.56%
Michigan1.17%1.69%
Minnesota1.68%1.96%
Mississippi1.65%2.44%
Missouri1.32%1.48%
Montana1.71%2.72%
Nebraska1.85%2.10%
Nevada1.36%2.53%
New Hampshire2.05%2.70%
New Jersey1.71%2.28%
New Mexico1.33%1.89%
New York1.39%1.66%
North Carolina1.75%2.78%
North Dakota0.66%1.03%
Ohio1.19%1.44%
Oklahoma0.98%1.90%
Oregon1.26%2.10%
Pennsylvania1.36%1.85%
Rhode Island1.79%2.20%
South Carolina1.94%2.84%
South Dakota1.07%2.10%
Tennessee1.69%2.71%
Texas1.74%2.92%
Utah2.00%2.90%
Vermont1.92%3.00%
Virginia1.84%2.35%
Washington0.69%1.34%
West Virginia1.46%1.87%
Wisconsin1.55%1.99%
Wyoming2.03%2.92%
Alaska0.82%1.28%
Hawaii0.08%0.80%

 

 

q3-us-commerical-building
Q3 US Agricultural Building

Canada

Canada Regional Weighted Commercial Cost Changes

 

The average change for Canadian building materials increased by 2.1% over the quarter, For labor, the average wage rate increased by 1.2%, 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:

 

Canada Quarterly Material Cost Changes4Q161Q172Q173Q174Q171Q182Q183Q18
Aluminum Conduit-2.90.1-1.7-1.9-0.7-0.10.70.7
Concrete Block0.70.61.11.10.81.00.92.0
Drywall0.42.91.72.61.61.33.03.4
Galvanized Pipe-2.5-2.0-1.8-0.2-1.9-1.6-1.0-0.1
Ready Mix-1.03.9-1.7-0.9-0.75.4-0.8-3.7
Rebar-0.10.1-0.1-0.2-0.50.22.17.4
Steel Deck0.0-0.10.2-0.20.10.50.30.8
Steel Stud0.30.60.40.60.40.12.04.7
Structural Steel-0.7-0.40.2-0.4-0.6-0.13.111.5
½” Cooper Pipe-1.30.61.9-0.7-1.4-0.1-0.40.2

Canada Province by Province

Building Construction Index
Q3 2018

The table below provide a province by province snapshot of the changes in reconstruction costs for commercial and agricultural buildings.

ProvinceCommericalAgricultural
Alberta0.95%1.33%
British Columbia1.82%2.84%
Manitoba2.65%3.48%
New Brunswick1.18%1.35%
Nova Scotia2.59%3.53%
Ontario2.02%2.73%
Quebec1.03%1.91%
Saskatchewan1.27%1.95%
Newfoundland and Labrador1.71%2.37%
Prince Edward Island0.00%0.00%

 

 

 

q3-canada-commercial-building
a3 canada agricultural building