Materials Prices Soar 20 Percent in 2021 Despite Moderating in December; Most Contractors in Association Survey List Costs as Top Concern in 2022

Prices of construction materials jumped nearly 20 percent in 2021 despite moderating in December, according to an analysis by the AGC of America of government data released. Association officials said contractors rate materials costs as a top concern for 2022, according to a survey predicting the industry’s outlook for the industry the association released yesterday.

“Costs may not rise as steeply in 2022 as they did last year but they are likely to remain volatile, with unpredictable prices and delivery dates for key materials,” said Ken Simonson, the association’s chief economist. “That volatility can be as hard to cope with as steadily rising prices and lead times.”

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