Solutions

Commercial Product Bulletin

1st Quarter 2021

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 Q4 2020, the average for U.S. building materials increased by 6.8%. For labor, the average wage rate increased by 1.4%, based on construction trade contracts that were renewed during the quarter.

  • The average change for Canadian building materials increased by 6.9% over the quarter, for labor, the average wage rate increased by 0.5%, 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 StatesCanada
 QuarterYearQuarterYear
Aluminum Conduit2.0%2.7%0.6%2.6%
Asphalt Shingles0.8%2.2%0.4%2.5%
Concrete Block0.7%2.9%1.1%2.3%
Drywall0.7%0.1%0.4%1.1%
Felt Paper0.4%1.0%0.5%4.0%
Galvanized Pipe0.3%1.9%1.7%6.4%
Lumber31.5%39.8%48.4%52.0%
Plywood24.5%25.5%20.7%17.3%
Ready Mix1.7%3.6%2.5%6.4%
Rebar0.1%1.3%-0.5%-2.0%
Steel Deck0.8%1.9%1.4%5.0%
Steel Stud0.8%2.3%0.8%3.6%
Structural Steel0.3%-1.0%0.2%1.7%
1/2″ Copper Pipe0.3%-0.7%0.5%4.2%

National Average

Building Construction Index
Q4 2020

National AverageCommercialAgricultural
United States3.2%3.3%
Canada2.9%2.8%

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 Q4 2020, the average for U.S. building materials increased by 6.8%, For labor, the average wage rate increased by 1.4%, 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:

US Quarterly Material Cost Changes
 4Q181Q192Q193Q194Q191Q202Q203Q204Q20
Aluminum Conduit1.01.71.40.10.60.61.0-1.02.0
Concrete Block0.20.81.10.40.81.00.70.60.7
Drywall1.2-0.3-0.10.30.7-0.5-0.10.00.7
Galvanized Pipe1.91.91.10.80.50.50.50.60.3
Ready Mix0.10.31.61.50.90.71.00.21.7
Rebar1.40.6-0.40.5-0.10.8-0.10.40.1
Steel Deck1.71.00.5-0.30.00.40.60.10.8
Steel Stud2.41.0-0.60.11.50.20.60.60.8
Structural Steel1.1-0.1-0.5-1.3-0.8-0.3-0.8-0.10.3
½” Cooper Pipe-1.1-1.00.1-0.3-1.4-0.4-0.4-0.30.3

U.S. State by State

Building Construction Index
Q4 2020

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

 

StateCommercialAgricultural
Alabama2.84%2.71%
Arizona4.56%5.18%
Arkansas4.64%5.28%
California3.28%3.34%
Colorado2.87%2.82%
Connecticut3.57%3.45%
Delaware3.82%3.30%
District Of Columbia5.88%4.80%
Florida2.43%2.19%
Georgia4.27%4.03%
Idaho3.01%3.33%
Illinois3.19%3.09%
Indiana2.92%3.00%
Iowa4.05%3.84%
Kansas2.80%3.33%
Kentucky2.89%3.01%
Louisiana3.88%4.53%
Maine3.02%2.96%
Maryland3.16%2.93%
Massachusetts2.83%2.89%
Michigan3.52%3.32%
Minnesota4.23%4.49%
Mississippi3.76%4.10%
Missouri2.66%2.66%
Montana2.59%3.06%
Nebraska3.55%3.91%
Nevada2.04%1.92%
New Hampshire2.77%2.90%
New Jersey1.72%2.00%
New Mexico1.92%2.22%
New York3.32%3.14%
North Carolina2.33%2.20%
North Dakota2.23%2.09%
Ohio3.16%3.06%
Oklahoma3.66%4.20%
Oregon3.37%3.80%
Pennsylvania3.74%3.30%
Rhode Island0.63%1.10%
South Carolina2.52%2.48%
South Dakota3.94%2.95%
Tennessee4.82%4.72%
Texas2.65%2.67%
Utah4.42%6.00%
Vermont3.09%3.20%
Virginia2.46%2.37%
Washington2.58%2.52%
West Virginia3.26%3.44%
Wisconsin4.32%3.91%
Wyoming5.36%5.34%
Alaska1.86%1.93%
Hawaii0.85%0.80%

 

 

 

 

 

 

 

 

 
us_figure-1-commercial-bulletin-q1-2021
Q1 2021 Commercial Product Bulletin Agriculture US

Canada

Canada Regional Weighted Commercial Cost Changes

The average change for Canadian building materials increased by 6.9% over the quarter, for labor, the average wage rate increased by 0.5%, based on construction trade contracts that were renewed during the quarter.

 

Canada Quarterly Material Cost Changes
 4Q181Q192Q193Q194Q191Q202Q203Q204Q20
Aluminum Conduit-0.51.61.81.91.50.81.10.10.6
Concrete Block0.70.32.11.10.70.70.40.11.1
Drywall1.12.12.01.20.80.30.10.20.4
Galvanized Pipe-0.30.51.91.21.91.61.61.31.7
Ready Mix-0.10.72.40.81.10.02.21.52.5
Rebar1.20.1-0.7-1.6-1.6-0.6-1.10.2-0.5
Steel Deck0.30.11.10.90.81.70.81.11.4
Steel Stud2.02.42.01.10.70.90.91.00.8
Structural Steel0.90.8-0.60.80.30.50.60.30.2
½” Cooper Pipe0.01.82.20.41.01.81.50.40.5

Canada Province by Province

Building Construction Index
Q4 2020

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

 

ProvinceCommercialAgriculture
Alberta2.60%2.33%
British Columbia3.12%3.01%
Manitoba1.74%1.56%
New Brunswick0.40%0.21%
Nova Scotia5.91%6.25%
Ontario2.38%2.27%
Quebec2.94%2.71%
Saskatchewan3.45%3.62%
Newfoundland & Labrador4.90%4.69%
Prince Edward Island0.65%0.98%

 

 

 

us_ca_figure-1-commercial-bulletin-q1-2021
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