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:

US and Canada

National Average

From Q4 2016 to Q1 2017

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.

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.

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.

U.S. Regional Weighted Commercial Cost Changes

The table at right and maps below provide state by state changes in reconstruction costs for commercial and agricultural buildings.

From Q4 2016 to Q1 2017, the average for U.S. building materials increased by 0.7%. For labor, the average wage rate increased by 0.4%, 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:

U.S. State by State Cost Changes

Q4 2016 compared to Q1 2017

STATE Commercial Agricultural
Alabama 0.63% 0.64%
Alaska 1.08% 1.03%
Arizona 0.59% 0.32%
Arkansas 0.90% 0.80%
California 1.39% 1.56%
Colorado 0.36% 0.63%
Connecticut 0.76% 0.85%
Delaware 0.03% 0.00%
Florida 0.56% 0.98%
Georgia 0.53% 1.00%
STATE Commercial Agricultural
Hawaii -0.07% 0.00%
Idaho 0.69% 1.10%
Illinois 0.78% 0.94%
Indiana 0.69% 0.78%
Iowa 0.69% 0.93%
Kansas 0.79% 0.82%
Kentucky 0.97% 0.90%
Louisiana 1.12% 1.05%
Maine 0.63% 1.03%
Maryland 0.43% 0.30%
STATE Commercial Agricultural
Massachusetts -0.02% 0.30%
Michigan 0.89% 0.91%
Minnesota 0.77% 0.91%
Mississippi 0.39% 0.64%
Missouri 0.62% 0.83%
Montana 0.85% 1.03%
Nebraska 0.67% 0.70%
Nevada 0.74% 0.47%
New Hampshire 0.95% 1.15%
New Jersey 0.36% 0.35%
STATE Commercial Agricultural
New Mexico 0.19% 0.37%
New York 1.08% 1.04%
North Carolina -0.02% 0.24%
North Dakota 0.68% 0.80%
Ohio 0.67% 1.10%
Oklahoma 0.52% 0.57%
Oregon 1.07% 1.20%
Pennsylvania 0.41% 0.77%
Rhode Island -0.10% 0.60%
South Carolina 0.40% 0.77%
STATE Commercial Agricultural
South Dakota 0.83% 0.65%
Tennessee 0.34% 0.60%
Texas 0.73% 0.88%
Utah 0.63% 0.50%
Vermont 0.37% 0.80%
Virginia 0.27% 0.85%
Washington 0.73% 0.85%
West Virginia 0.70% 0.70%
Wisconsin 0.83% 1.08%
Wyoming 0.50% 0.35%

Commercial - Q42016 comparted to Q1 2017

Agricultural - Q4 2016 compared to Q1 2017

Canada Regional Weighted Commercial Cost Changes

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

The average change for Canadian building materials decreased by 0,7% over the quarter. For labor, the average wage rate increased by 0,1%, 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 Changes

Canada Province by Province Cost Changes

Q4 2016 compared to Q1 2017

Commercial - Q4 2016 compared to Q1 2017

Agricultural - Q4 2016 compared to Q1 2017