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Cost Trends


BNi Building News Construction Costs 2024

BNi Building News Construction Costs 2024

Posted: December 29, 2023 | Cost Trends

The housing market is still down but showing some signs of a rebound in the next 24 months. Once interest rates start coming down watch for a pent up demand to fuel the market. Overall housing is down 8 to 10%. Commercial construction continues to be another story, with virtually all sectors up in double digits. Hotels and manufacturing are leading, with increases of 25% and 75%, respectively. Clearly, the infrastructure program is really kicking in. Contractors and designers are reporting backlogs – this is a good time to be in construction.

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BNi Building News 2023 Construction Costs Copper Wire 

BNi Building News 2023 Construction Costs Copper Wire 

Posted: November 30, 2023 | Cost Trends

Copper Wire is always the target of inflation watchers, copper had not followed the increases of other construction components. China does not seem to be coming back and the spot price for copper is well below $4 a pound, which seems to have a direct bearing on wire. Copper wire is down 2% for the year.

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BNi Building News Construction Costs November 2023 

BNi Building News Construction Costs November 2023 

Posted: November 2, 2023 | Cost Trends

The housing market is moving but still down; it’s not dead but until mortgage rates work their way down it most likely won’t get better. Housing is down 10%. Housing priced below $400,000 is still selling and builders in appropriate markets are building. The commercial sector is another story, almost all sectors are up, averaging a 15% increase, with some extraordinary sectors such as manufacturing up over 60%. The infrastructure program is still kicking in and up 12-15%. Contractors report backlogs but not as dramatic as last year, and most materials are readily available.

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BNi Building News Construction Costs September October 2023

BNi Building News Construction Costs September October 2023

Posted: September 1, 2023 | Cost Trends

The housing market is starting to make a recovery; not a strong one, but it’s a recovery nevertheless. Housing priced below $400,000 is selling and builders in appropriate markets are building. Mortgage rates are high, but buyers have factored this in and are still buying. In the commercial sector things are flat, but with strong growth, in lodging, educational, and manufacturing. 

The infrastructure program is working and the public market is up 12-15%. Contractors still report a backlog, but most materials are available. There is less talk of a recession, and it looks like we may get that “soft landing” so often mentioned by economists.

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Labor Rates for Major South Midwest Cities May 2023 

Labor Rates for Major South Midwest Cities May 2023 

Posted: May 12, 2023 | Cost Trends

Labor rates shown here are current Davis-Bacon labor rates for South Midwest cities. These will help you determine wage rates for your estimates and bids, especially for publicly-funded projects where the payment of locally prevailing wages and fringe benefits are required by law.

Davis-Bacon wage rates are required for contractors or subcontractors performing on federally funded or assisted contracts in excess of $2,000. These wage rates are based on up-to-date data from the Department of Labor.

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