Material Shortage Update: April 2022

Material costs have been a significant issue for the construction industry in recent years, and the situation has only become more pressing in recent months. Brad, with Home Love Construction, provides a comprehensive update on material costs in April 2022. He covers four major categories: lumber, concrete and block, windows, and fixtures.

Lumber prices have remained stable over the past six months, but they have increased by 80% from two years ago. Despite this, there have not been any significant price spikes or fluctuations, and the prices have remained relatively flat. The cost of lumber has been the same in both big box stores like Home Depot and Lowe’s and with lumber suppliers who buy in bulk.

Concrete and block prices have steadily increased by 40% over the past eight months, and the cost of rebar has doubled. The high demand for building materials has also led to a shortage of labor, making it even more challenging to get these materials at a reasonable price. In addition, the cost of labor for concrete and block has also increased due to the high demand for these services in the Tampa Bay area.

Windows are a popular topic among construction professionals, and they have only become more expensive in recent years. Brad received notification of an 8% price increase on the cost of windows in May 2022. This increase makes windows double the price they were two years ago. The increase in prices affects both impact and non-impact windows equally. Brad points out that windows are the first items purchased at the beginning of a project, so this increase in prices can have a significant impact on the overall cost of construction.

Finally, Brad discusses the fixture market, which includes the finishings and other materials used to complete a building. He brings up an interesting point about this market but does not go into further detail.

In conclusion, material costs are a critical issue for the construction industry, and the situation has not improved over the past few months. The cost of lumber, concrete and block, windows, and fixtures has all increased, making it challenging for builders to keep the costs of construction under control. Despite these challenges, builders are still finding ways to get the materials and services they need to complete their projects.