RCT Express® Product Bulletin Highlights

CoreLogic® monitors a wide variety of construction materials for the residential building industry. A few of this quarter's highlights are:

  • From Q4 2015 to Q1 2016, the average for U.S. building materials declined by 1.5%. For labor, the average wage rate increased 0.6%, based on construction trade contracts that were renewed during the quarter.
  • The average change for Canadian building materials decreased by 2.5% over the quarter. Based on the construction trade contracts that were renewed during the quarter, the average labor wage rate revealed little to no change.

About CoreLogic Data Research

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.

  • Other factors in this process include the following:
  • Wage rates for more than 85 union and non-union trades
  • Over 100,000 line items of construction data
  • Productivity rates and crew sizes
  • Local cost concerns, such as building code requirements and other localized variables

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.

United States

U.S. Regional RCT Express® Cost Changes

The map and table at right provide a snapshot of the changes in reconstruction costs for residential buildings in the first quarter, broken into six U.S. geographic regions.

From Q4 2015 to Q1 2016, the average for U.S. building materials declined by 1.5%. For labor, the average wage rate increased 0.6%, based on construction trade contracts that were renewed during the quarter.

U.S. Regional Quarterly Cost Changes:

Q4 2015 compared to Q1 2016

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:

Canada

Canada Regional RCT Express® Cost Changes

The map and table at right provide a snapshot of the changes in reconstruction costs for residential buildings in the first quarter, broken into four Canadian geographic regions.

The average change for Canadian building materials decreased by 2.5% over the quarter. For labor, the average wage rate revealed little to no change, based on the construction trade contracts that were renewed during the quarter.

Canada Regional Quarterly Cost Changes:

Q4 2015 compared to Q1 2016

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:

What's New

NOTE: Remember, CoreLogic recommends a full program install whenever possible to ensure full use of the latest date and program enhancements.

Cost Data Changes

1Q 2016 RCT main street and Mobile Manufactured Housing

The first quarter 2016 cost data update reflects reconstruction cost changes in both labor and material. Standardized costs in this release reflect localized, updated costs representing the impact of emerging markets and economic trends on construction costs.

Mobile-Manufactured Housing - 2016 Historical Depreciation Tables

Each year as part of the first quarter update, the Mobile Manufactured Home Historical Depreciation table and definition are updated to reflect changes to the year built range 1950 to 2017.

Non-Cost Data Changes

1Q2016 RCT High Value 4.2.x, 4.3.x and RCT International Help File Definitions Changes

RCT High Value™ 4.2.x, 4.3.x and RCTTM International - Help File Definition Updates

Help file definitions for within RCT High Value 4.2.x, 4.3.x and RCT International have been updated for the following material selections:

Door, Patio, Sliding Plate Insulated Glass with Built-In Cloth Shade

  • Definition - A sliding insulated glass door with built-in cloth shades that opens by sliding horizontally in a track. The door includes a built-in cloth shade that is between the panes of glass.
  • Included in Cost - Both the fixed and the sliding door sections, insulated glass with built-in cloth shade, jamb, frame, hardware, casing/trim, paint, caulk, lock-set shims, fasteners, and installation labor.
  • Entry Information - Enter the total square footage, between 0 and 5000, of sliding insulated glass patio doors with built-in cloth shades found in the home.

Stairs, Attic, Pull Down, Wood

  • Definition - A retractable staircase installed in the floor of the attic and ceiling of the floor below the attic that allows a user to access the attic area.  Pull-down attic stairs typically have a drawstring that allows a person to extend the stairs for access to the attic.  Also known as an attic ladder or loft ladder. 
  • Included in Cost - Wood pull down attic stairs/ladder, cutting of hole in ceiling for stairs to be installed, framing, access hatch/door, insulation, trim, hardware/fasteners, paint, and installation labor. 
  • Entry Information - Enter the total number of wood pull-down attic staircases found in the home.  A maximum entry of five is allowed.