March 2025: Construction Materials Price Report
The Return of Section 232 Tariffs: What It Means for the Construction Industry
The return of Section 232 tariffs is sending shockwaves through the construction industry. With a 25% tariff now applied to all imported steel and aluminum, contractors are facing sharp increases in material costs—and longer lead times. Steel imports dropped 38% in February, and U.S. mills, already operating below full capacity, can’t bridge the supply gap. Prices are jumping fast: scrap steel is up $50 per ton, and flat products like plate and hot rolled coil have surged up to $350 per ton since January. The market is reacting to uncertainty, not just scarcity. With exemptions gone and demand rising, domestic mills are holding firm on pricing, forcing project teams to revisit procurement strategies. For firms locked into fixed-price contracts, the pressure is on. Staying ahead means anticipating price escalations and locking in materials early. At Paragon, we’re helping clients rethink sourcing and mitigate risk before supply chain disruptions hit their schedules.
Continue reading this article.
Construction Job Openings Drop 42% as Industry Braces for Uncertainty
Construction job openings fell 42% year-over-year in January, dropping to 236,000 open roles—the sharpest decline in over a decade. While openings did rise slightly from December, overall hiring sentiment has cooled. Workforce movement, however, remains high: quits surged 47% month-over-month and 21% year-over-year, while separations reached their fastest pace since early 2024. The result is a volatile labor market where firms are reluctant to expand but struggling to retain workers. Rising tariffs and economic uncertainty are key drivers behind the slowdown, with contractors delaying hiring decisions as they wait for more clarity on costs and project pipelines. Despite the pullback, many still anticipate hiring later this year once conditions stabilize—pointing to a cautious, not collapsing, labor environment.
Continue reading this article.
Inflation Slows to 2.8% in February, But Uncertainty Remains for Construction
U.S. inflation eased to 2.8% in February, offering a bit of relief after January’s sharp uptick. The monthly consumer price increase slowed to 0.2%, but key construction inputs remain volatile. Shelter costs climbed 4.2% year-over-year, while food and insurance continued to rise sharply—egg prices alone surged over 10% last month. More pressing for construction: newly reinstated tariffs on steel and aluminum are taking effect, with the EU already responding in kind. Domestic mills are bracing for increased demand, likely driving up prices and extending lead times. And while interest rates are holding steady for now, potential cuts later this year could shift development activity again. For builders, the signal is mixed—headline inflation may be cooling, but core project costs are still under pressure.
Continue reading this article.
Turner Ventures: Driving Innovation and Sustainability in Construction
Turner Construction is launching Turner Ventures, a venture capital arm aimed at reshaping the AEC industry through innovation and sustainability. The fund will invest in early-stage startups focused on ClimateTech and PropTech—from low-carbon materials and energy-efficient systems to AI-driven project management tools. Turner isn’t just cutting checks—it’s offering mentorship, pilot projects, and real-world testing environments across its $20B annual portfolio. The initiative lands as contech investment rebounds, with 325 deals closed in 2024, up from 236 the year before. With industry giants now fueling startup growth, construction is rapidly moving toward a smarter, more sustainable future.
Continue reading this article.
Conclusion
The challenges facing the construction industry today—tariffs, labor shifts, inflation, and volatile material costs—aren’t just obstacles. They’re signals. What we’re seeing isn’t temporary turbulence; it’s a fundamental shift in how projects are financed, built, and delivered. Every period of disruption creates separation—between those who react and those who lead. The builders who will thrive in 2025 aren’t waiting for predictability. They’re rethinking procurement strategies, investing in resilient teams, integrating automation where it counts, and forging new supply chain partnerships that provide long-term stability. But the biggest risk in this market isn’t rising costs. It’s inaction. Now is the time for precision—for bold, informed decisions rooted in data and discipline. The companies outperforming right now aren’t chasing trends. They’re creating clarity amid chaos. They’re reducing risk, protecting margins, and executing with confidence—project after project. At Paragon Construction Consulting, we believe this is a defining moment for the industry. Those who embrace change with intention—who lead with focus and act with purpose—will set the standard for the next generation of construction. Let’s build that future—together.
Jeff Hall
President & CEO
Online
Get in Touch
Commodity
12 Month % Change
1 Month % Change
Softwood Lumber
+10.9
+2.8
Hardwood Lumber
+5.6
0.0
General Millworks
+1.0
+0.4
Soft Plywood Products
-7.7
+5.6
Hot Rolled Steel
-12.6
-2.4
Copper Wire & Cable
+9.6
+2.0
Power Wire & Cable
+1.5
-0.5
Builder's Hardware
+1.0
+0.7
Plumbing Fixtures
+2.6
0.0
Furnaces and Heaters
+0.4
+0.1
Sheet Metal Products
+0.6
+1.0
Electrical Lighting Fixtures
+4.1
0.0
Nails
-3.9
+0.3
Major Appliances
-0.2
+0.8
Ready-Mix Concrete
+2.5
-0.0
Asphalt Roofing & Siding
-0.3
-0.9
Gypsum Products
+3.4
0.0
Insulation
+6.0
+0.8
Profits Under Pressure: Navigating Rising Material Costs Amid New Tariffs
New tariffs on steel, aluminum, and imports from Canada, Mexico, and China are squeezing construction margins. Steel prices jumped 3.9% in February, while softwood lumber climbed 10.9% year-over-year. Input costs overall are up 0.6%, fueled by rising energy prices—crude petroleum surged 14.8% and natural gas 13.7% in January. Contractors rushed to secure materials ahead of the March tariff rollout, but now face tighter supply and rising prices. In response, builders are exploring alternative materials, diversifying supply chains, and recalibrating project budgets. Transparent communication with clients is more important than ever as teams navigate a volatile cost environment.
Continue reading this article.
20-City Average Cost Indexes, Wages, Prices
ENR publishes both a Construction Cost Index and Building Cost index that reports the average national price by surveying 20 major cities across the United States. These figures report the national average change of cost over the last month.
CONCRETE BLOCK
-1.5%
READY MIX CONCRETE
-5.3%
ASPHALT PAVING
-0.7%
PORTLAND CEMENT
-0.6%
ALUMINIUM SHEET
+0.1%
REINFORCING BARS
-1.5%
WIDE FLANGE
+0.4%
STAINLESS-STEEL SHEET
+3.3%
CORRUGATED-STEEL PIPE
+5.2%
DUCTILE-IRON PIPE
+0.3%
PVC WATER PIPE
-5.7%
REINFORCED CONCRETE PIPE
+0.8%
GYPSUM WALLBOARD
+0.5%
PARTICLE BOARD
-4.0%
PLYWOOD
-0.1%
LUMBER
+0.3%
Sources
Paragon compiles the latest and most accurate information. It’s worth noting, some sources release data more or less frequently.
Want the latest information on construction materials?
Subscribe to the Paragon Post
Want the latest information on construction materials?
Subscribe to the Paragon Post
Want the latest information on construction materials?
Subscribe to the Paragon Post
The Return of Section 232 Tariffs: What It Means for the Construction Industry
The return of Section 232 tariffs is sending shockwaves through the construction industry. With a 25% tariff now applied to all imported steel and aluminum, contractors are facing sharp increases in material costs—and longer lead times. Steel imports dropped 38% in February, and U.S. mills, already operating below full capacity, can’t bridge the supply gap. Prices are jumping fast: scrap steel is up $50 per ton, and flat products like plate and hot rolled coil have surged up to $350 per ton since January. The market is reacting to uncertainty, not just scarcity. With exemptions gone and demand rising, domestic mills are holding firm on pricing, forcing project teams to revisit procurement strategies. For firms locked into fixed-price contracts, the pressure is on. Staying ahead means anticipating price escalations and locking in materials early. At Paragon, we’re helping clients rethink sourcing and mitigate risk before supply chain disruptions hit their schedules.
Continue reading this article.
Construction Job Openings Drop 42% as Industry Braces for Uncertainty
Construction job openings fell 42% year-over-year in January, dropping to 236,000 open roles—the sharpest decline in over a decade. While openings did rise slightly from December, overall hiring sentiment has cooled. Workforce movement, however, remains high: quits surged 47% month-over-month and 21% year-over-year, while separations reached their fastest pace since early 2024. The result is a volatile labor market where firms are reluctant to expand but struggling to retain workers. Rising tariffs and economic uncertainty are key drivers behind the slowdown, with contractors delaying hiring decisions as they wait for more clarity on costs and project pipelines. Despite the pullback, many still anticipate hiring later this year once conditions stabilize—pointing to a cautious, not collapsing, labor environment.
Continue reading this article.
Inflation Slows to 2.8% in February, But Uncertainty Remains for Construction
U.S. inflation eased to 2.8% in February, offering a bit of relief after January’s sharp uptick. The monthly consumer price increase slowed to 0.2%, but key construction inputs remain volatile. Shelter costs climbed 4.2% year-over-year, while food and insurance continued to rise sharply—egg prices alone surged over 10% last month. More pressing for construction: newly reinstated tariffs on steel and aluminum are taking effect, with the EU already responding in kind. Domestic mills are bracing for increased demand, likely driving up prices and extending lead times. And while interest rates are holding steady for now, potential cuts later this year could shift development activity again. For builders, the signal is mixed—headline inflation may be cooling, but core project costs are still under pressure.
Continue reading this article.
Turner Ventures: Driving Innovation and Sustainability in Construction
Turner Construction is launching Turner Ventures, a venture capital arm aimed at reshaping the AEC industry through innovation and sustainability. The fund will invest in early-stage startups focused on ClimateTech and PropTech—from low-carbon materials and energy-efficient systems to AI-driven project management tools. Turner isn’t just cutting checks—it’s offering mentorship, pilot projects, and real-world testing environments across its $20B annual portfolio. The initiative lands as contech investment rebounds, with 325 deals closed in 2024, up from 236 the year before. With industry giants now fueling startup growth, construction is rapidly moving toward a smarter, more sustainable future.
Continue reading this article.
Conclusion
The challenges facing the construction industry today—tariffs, labor shifts, inflation, and volatile material costs—aren’t just obstacles. They’re signals. What we’re seeing isn’t temporary turbulence; it’s a fundamental shift in how projects are financed, built, and delivered. Every period of disruption creates separation—between those who react and those who lead. The builders who will thrive in 2025 aren’t waiting for predictability. They’re rethinking procurement strategies, investing in resilient teams, integrating automation where it counts, and forging new supply chain partnerships that provide long-term stability. But the biggest risk in this market isn’t rising costs. It’s inaction. Now is the time for precision—for bold, informed decisions rooted in data and discipline. The companies outperforming right now aren’t chasing trends. They’re creating clarity amid chaos. They’re reducing risk, protecting margins, and executing with confidence—project after project. At Paragon Construction Consulting, we believe this is a defining moment for the industry. Those who embrace change with intention—who lead with focus and act with purpose—will set the standard for the next generation of construction. Let’s build that future—together.
Jeff Hall
President & CEO
Online
Online
Get in Touch
Get in Touch
Commodity
12 Month % Change
1 Month % Change
Softwood Lumber
+10.9
+2.8
Hardwood Lumber
+5.6
0.0
General Millworks
+1.0
+0.4
Soft Plywood Products
-7.7
+5.6
Hot Rolled Steel
-12.6
-2.4
Copper Wire & Cable
+9.6
+2.0
Power Wire & Cable
+1.5
-0.5
Builder's Hardware
+1.0
+0.7
Plumbing Fixtures
+2.6
0.0
Furnaces and Heaters
+0.4
+0.1
Sheet Metal Products
+0.6
+1.0
Electrical Lighting Fixtures
+4.1
0.0
Nails
-3.9
+0.3
Major Appliances
-0.2
+0.8
Ready-Mix Concrete
+2.5
-0.0
Asphalt Roofing & Siding
-0.3
-0.9
Gypsum Products
+3.4
0.0
Insulation
+6.0
+0.8
Profits Under Pressure: Navigating Rising Material Costs Amid New Tariffs
New tariffs on steel, aluminum, and imports from Canada, Mexico, and China are squeezing construction margins. Steel prices jumped 3.9% in February, while softwood lumber climbed 10.9% year-over-year. Input costs overall are up 0.6%, fueled by rising energy prices—crude petroleum surged 14.8% and natural gas 13.7% in January. Contractors rushed to secure materials ahead of the March tariff rollout, but now face tighter supply and rising prices. In response, builders are exploring alternative materials, diversifying supply chains, and recalibrating project budgets. Transparent communication with clients is more important than ever as teams navigate a volatile cost environment.
Continue reading this article.
20-City Average Cost Indexes, Wages, Prices
ENR publishes both a Construction Cost Index and Building Cost index that reports the average national price by surveying 20 major cities across the United States. These figures report the national average change of cost over the last month.
CONCRETE BLOCK
-1.5%
READY MIX CONCRETE
-5.3%
ASPHALT PAVING
-0.7%
PORTLAND CEMENT
-0.6%
ALUMINIUM SHEET
+0.1%
REINFORCING BARS
-1.5%
WIDE FLANGE
+0.4%
STAINLESS-STEEL SHEET
+3.3%
CORRUGATED-STEEL PIPE
+5.2%
DUCTILE-IRON PIPE
+0.3%
PVC WATER PIPE
-5.7%
REINFORCED CONCRETE PIPE
+0.8%
GYPSUM WALLBOARD
+0.5%
PARTICLE BOARD
-4.0%
PLYWOOD
-0.1%
LUMBER
+0.3%
Sources
https://www.enr.com/articles/60154-clayco-dives-deep-into-data-center-construction
https://www.maslon.com/how-the-new-administration-may-impact-the-construction-industry
Paragon compiles the latest and most accurate information. It’s worth noting, some sources release data more or less frequently.
Sources
Paragon compiles the latest and most accurate information. It’s worth noting, some sources release data more or less frequently.
March 2025: Construction Materials Price Report
The Return of Section 232 Tariffs: What It Means for the Construction Industry
The return of Section 232 tariffs is sending shockwaves through the construction industry. With a 25% tariff now applied to all imported steel and aluminum, contractors are facing sharp increases in material costs—and longer lead times. Steel imports dropped 38% in February, and U.S. mills, already operating below full capacity, can’t bridge the supply gap. Prices are jumping fast: scrap steel is up $50 per ton, and flat products like plate and hot rolled coil have surged up to $350 per ton since January. The market is reacting to uncertainty, not just scarcity. With exemptions gone and demand rising, domestic mills are holding firm on pricing, forcing project teams to revisit procurement strategies. For firms locked into fixed-price contracts, the pressure is on. Staying ahead means anticipating price escalations and locking in materials early. At Paragon, we’re helping clients rethink sourcing and mitigate risk before supply chain disruptions hit their schedules.
Construction Job Openings Drop 42% as Industry Braces for Uncertainty
Construction job openings fell 42% year-over-year in January, dropping to 236,000 open roles—the sharpest decline in over a decade. While openings did rise slightly from December, overall hiring sentiment has cooled. Workforce movement, however, remains high: quits surged 47% month-over-month and 21% year-over-year, while separations reached their fastest pace since early 2024. The result is a volatile labor market where firms are reluctant to expand but struggling to retain workers. Rising tariffs and economic uncertainty are key drivers behind the slowdown, with contractors delaying hiring decisions as they wait for more clarity on costs and project pipelines. Despite the pullback, many still anticipate hiring later this year once conditions stabilize—pointing to a cautious, not collapsing, labor environment.
Inflation Slows to 2.8% in February, But Uncertainty Remains for Construction
U.S. inflation eased to 2.8% in February, offering a bit of relief after January’s sharp uptick. The monthly consumer price increase slowed to 0.2%, but key construction inputs remain volatile. Shelter costs climbed 4.2% year-over-year, while food and insurance continued to rise sharply—egg prices alone surged over 10% last month. More pressing for construction: newly reinstated tariffs on steel and aluminum are taking effect, with the EU already responding in kind. Domestic mills are bracing for increased demand, likely driving up prices and extending lead times. And while interest rates are holding steady for now, potential cuts later this year could shift development activity again. For builders, the signal is mixed—headline inflation may be cooling, but core project costs are still under pressure.
Turner Ventures: Driving Innovation and Sustainability in Construction
Turner Construction is launching Turner Ventures, a venture capital arm aimed at reshaping the AEC industry through innovation and sustainability. The fund will invest in early-stage startups focused on ClimateTech and PropTech—from low-carbon materials and energy-efficient systems to AI-driven project management tools. Turner isn’t just cutting checks—it’s offering mentorship, pilot projects, and real-world testing environments across its $20B annual portfolio. The initiative lands as contech investment rebounds, with 325 deals closed in 2024, up from 236 the year before. With industry giants now fueling startup growth, construction is rapidly moving toward a smarter, more sustainable future.
Sources
https://www.enr.com/articles/60154-clayco-dives-deep-into-data-center-construction
https://www.maslon.com/how-the-new-administration-may-impact-the-construction-industry
Paragon compiles the latest and most accurate information. It’s worth noting, some sources release data more or less frequently.
Sources
Paragon compiles the latest and most accurate information. It’s worth noting, some sources release data more or less frequently.
Commodity
12 Month % Change
1 Month % Change
Softwood Lumber
+10.9
+2.8
Hardwood Lumber
+5.6
0.0
General Millworks
+1.0
+0.4
Soft Plywood Products
-7.7
+5.6
Hot Rolled Steel
-12.6
-2.4
Copper Wire & Cable
+9.6
+2.0
Power Wire & Cable
+1.5
-0.5
Builder's Hardware
+1.0
+0.7
Plumbing Fixtures
+2.6
0.0
Furnaces and Heaters
+0.4
+0.1
Sheet Metal Products
+0.6
+1.0
Electrical Lighting Fixtures
+4.1
0.0
Nails
-3.9
+0.3
Major Appliances
-0.2
+0.8
Ready-Mix Concrete
+2.5
-0.0
Asphalt Roofing & Siding
-0.3
-0.9
Gypsum Products
+3.4
0.0
Insulation
+6.0
+0.8
Profits Under Pressure: Navigating Rising Material Costs Amid New Tariffs
New tariffs on steel, aluminum, and imports from Canada, Mexico, and China are squeezing construction margins. Steel prices jumped 3.9% in February, while softwood lumber climbed 10.9% year-over-year. Input costs overall are up 0.6%, fueled by rising energy prices—crude petroleum surged 14.8% and natural gas 13.7% in January. Contractors rushed to secure materials ahead of the March tariff rollout, but now face tighter supply and rising prices. In response, builders are exploring alternative materials, diversifying supply chains, and recalibrating project budgets. Transparent communication with clients is more important than ever as teams navigate a volatile cost environment.
Continue reading.
20-City Average Cost Indexes, Wages, Prices
ENR publishes both a Construction Cost Index and Building Cost index that reports the average national price by surveying 20 major cities across the United States. These figures report the national average change of cost over the last month.
CONCRETE BLOCK
-1.5%
READY MIX CONCRETE
-5.3%
ASPHALT PAVING
-0.7%
PORTLAND CEMENT
-0.6%
ALUMINIUM SHEET
+0.1%
REINFORCING BARS
-1.5%
WIDE FLANGE
+0.4%
STAINLESS-STEEL SHEET
+3.3%
CORRUGATED STEEL PIPE
+5.2%
DUCTILE-IRON PIPE
+0.3%
PVC WATER PIPE
-5.7%
REINFORCED CONCRETE PIPE
+0.8%
GYPSUM WALLBOARD
+0.5%
PARTICLE BOARD
-4.0%
PLYWOOD
-0.1%
LUMBER
+0.3%
March 2025: Construction Materials Price Report
Conclusion
The challenges facing the construction industry today—tariffs, labor shifts, inflation, and volatile material costs—aren’t just obstacles. They’re signals. What we’re seeing isn’t temporary turbulence; it’s a fundamental shift in how projects are financed, built, and delivered. Every period of disruption creates separation—between those who react and those who lead. The builders who will thrive in 2025 aren’t waiting for predictability. They’re rethinking procurement strategies, investing in resilient teams, integrating automation where it counts, and forging new supply chain partnerships that provide long-term stability. But the biggest risk in this market isn’t rising costs. It’s inaction. Now is the time for precision—for bold, informed decisions rooted in data and discipline. The companies outperforming right now aren’t chasing trends. They’re creating clarity amid chaos. They’re reducing risk, protecting margins, and executing with confidence—project after project. At Paragon Construction Consulting, we believe this is a defining moment for the industry. Those who embrace change with intention—who lead with focus and act with purpose—will set the standard for the next generation of construction. Let’s build that future—together.
Jeff Hall
President & CEO
Jeff Hall
President & CEO
Online
Get in Touch