Cost Overview of Building Supplies: November 2024
Surf Parks Boom: Bringing the Waves Inland in 2024
Surfing’s popularity in the United States rose by 28.5% in 2023, partly due to its Olympic debut, which attracted new fans. The need for accessible surfing has fueled growth in the surf park industry, where artificial wave technology lets people far from the coast enjoy riding waves. By 2028, the surf park market is expected to hit $3.8 billion, with nine new parks opening in 2024. Innovations from companies like American Wave Machines and the Kelly Slater Wave Company are creating authentic wave experiences everywhere.
Continue reading this article.
Electrifying the Future: The Rise of Sustainable Commercial Construction
As sustainability gains importance, the commercial construction industry is adopting electrification to lower carbon emissions and meet regulations. A recent Guidehouse Insights report forecasts the electrification market will grow from $91.3 billion in 2024 to $145.3 billion by 2033. Major drivers include environmental benefits, cost savings, and improved resilience against power disruptions. However, challenges like high upfront costs and renewable integration persist. Experts like Krystal Maxwell emphasize that adopting electric systems is crucial for achieving sustainability goals, highlighting the shift to eco-friendly building solutions worldwide.
Continue reading this article.
Lumber Price Volatility: Navigating Cost Challenges in Construction
The construction industry is experiencing significant fluctuations in lumber prices, with a recent 2.0% increase from last week and a 5.9% rise from last year. This volatility is caused by factors like increased demand, supply-chain disruptions, tariffs, and decreased domestic production, especially in softwood lumber. Since lumber and materials like plywood and OSB constitute a large portion of construction costs, these price hikes can greatly impact project budgets. Builders often face immediate cost increases as wholesalers adjust prices quickly, complicating project timelines and affecting housing affordability. Developers and owners must stay informed about these trends to manage their budgets and expectations effectively.
Continue reading this article.
Los Angeles’ Data Center Revolution: Redefining Commercial Real Estate
A digital transformation is reshaping downtown Los Angeles as traditional office spaces are converted into data centers. One Wilshire has shifted from a corporate hub to a key internet connectivity center with extensive fiber-optic networks and servers. The demand for digital infrastructure from cloud computing and streaming services has driven a real estate boom, prompting developers to repurpose properties. However, challenges like the need for reliable power sources and skilled professionals persist. As data centers gain prominence, they are revitalizing parts of Southern California’s commercial real estate market.
Continue reading this article.
Conclusion
One day away from what most people are calling the most divisive and polarizing election of our generation, or is it? Sure, both parties have slung mud back and forth, but that is nothing new. Both have used disinformation to alter the narrative to meet their agenda, but again, nothing new. It is highly unlikely that either party will garner enough votes to win the White House, Senate, and House. The only way to have a sea change in the country is to have control of all governing bodies. It is clear that will not happen for either party.
As I ask myself the pros and cons of either party winning, I reflect back on my career of many decades and have come to the conclusion that no election has made even a modest change in the companies I have worked for or my own. Yes, at times I have paid a little more or less in taxes. Yes, there have been times a new regulation or law came to pass that we had to comply with, but none materially changed the way I have managed my business.
Businesses with a sound culture do not change with the times or with a different political party in charge. Sound businesses hire good people with good character and work hard to bring value to the clients that hire them. They do it to make a fair profit. They do it to give back to the communities that they live and work in. They do it to give a future to the men and women who devote a third of their waking hours to the company.
If you truly look back at the things that have changed us as a country over the last eight years, it has been large social and cultural events: the COVID-19 pandemic, the Black Lives Matter movement, and Elon buying Twitter. All have profoundly changed our society way more than any politician. These are “We The People” type events where we as citizens gather together to create change.
I do believe that for America to continue to be the greatest nation in the world, we must force ourselves to reach across the boundaries of our differences and find the things that we can agree on. We spend far too much time focusing on the things that divide our great nation.
Ronald Reagan and Tip O’Neill were very different in their views of how to move the country forward, yet after work, they regularly had dinner together.
What would you do if your daughter and son had very different political views? Would you not have family trips or celebrate amazing moments in life? No, you would invite them both over for Thanksgiving, share a meal, and be thankful that we live in a country where all speech is protected, where all people are cherished not for the things that are in common, but for their unique differences.
Sincerely,
Jeff Hall
President & CEO
Online
Get in Touch
Commodity
12 Month % Change
1 Month % Change
Softwood Lumber
-2.2
2.5
Hardwood Lumber
1.8
-0.2
General Millworks
2.6
0.1
Soft Plywood Products
-10.0
0.9
Hot Rolled Steel
-8.3
-2.2
Copper Wire & Cable
9.5
0.3
Power Wire & Cable
3.3
-1.3
Builder's Hardware
-0.6
0.0
Plumbing Fixtures
1.8
0.0
Furnaces and Heaters
2.3
0.0
Sheet Metal Products
1.1
-0.2
Electrical Lighting Fixtures
1.5
0.0
Nails
-8.8
0.4
Major Appliances
-1.0
-2.1
Ready-Mix Concrete
4.5
0.3
Asphalt Roofing & Siding
1.3
0.9
Gypsum Products
4.7
0.0
Insulation
8.0
1.2
Breaking Barriers: Empowering Young Women in Construction
The construction industry is actively addressing its labor shortage by encouraging young women to pursue careers in trades through programs like Colorado’s “Transportation & Construction Girl” (T&C Girl). This initiative provides hands-on experiences and challenges stereotypes about women in construction, with only 14.3% of the workforce currently being female. T&C Girl offers girls aged 13 to 20 opportunities to engage with various trades, helping them overcome fears related to heavy machinery and fostering confidence. On a national level, the U.S. Department of Commerce is launching the Million Women in Construction initiative, aiming to double women’s representation in the industry over the next decade. Industry leaders have pledged to implement equitable hiring practices and provide supportive services, signaling a commitment to a more inclusive construction workforce.
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
-3.5%
READY MIX CONCRETE
+0.8%
ASPHALT PAVING
+1.0%
PORTLAND CEMENT
-4.9%
ALUMINIUM SHEET
+0.4%
REINFORCING BARS
-0.9%
WIDE FLANGE
-1.8%
STAINLESS-STEEL SHEET
+2.1%
CORRUGATED-STEEL PIPE
-0.2%
DUCTILE-IRON PIPE
+0.8%
PVC WATER PIPE
-0.9%
REINFORCED CONCRETE PIPE
-2.2%
GYPSUM WALLBOARD
-1.0%
PARTICLE BOARD
+0.4%
PLYWOOD
-0.4%
LUMBER
-2.6%
Sources
Paragon compiles the latest and most accurate information. It’s worth noting, some sources release data more or less frequently.
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Want the latest information on construction materials?
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Surf Parks Boom: Bringing the Waves Inland in 2024
Surfing’s popularity in the United States rose by 28.5% in 2023, partly due to its Olympic debut, which attracted new fans. The need for accessible surfing has fueled growth in the surf park industry, where artificial wave technology lets people far from the coast enjoy riding waves. By 2028, the surf park market is expected to hit $3.8 billion, with nine new parks opening in 2024. Innovations from companies like American Wave Machines and the Kelly Slater Wave Company are creating authentic wave experiences everywhere.
Continue reading this article.
Electrifying the Future: The Rise of Sustainable Commercial Construction
As sustainability gains importance, the commercial construction industry is adopting electrification to lower carbon emissions and meet regulations. A recent Guidehouse Insights report forecasts the electrification market will grow from $91.3 billion in 2024 to $145.3 billion by 2033. Major drivers include environmental benefits, cost savings, and improved resilience against power disruptions. However, challenges like high upfront costs and renewable integration persist. Experts like Krystal Maxwell emphasize that adopting electric systems is crucial for achieving sustainability goals, highlighting the shift to eco-friendly building solutions worldwide.
Continue reading this article.
Lumber Price Volatility: Navigating Cost Challenges in Construction
The construction industry is experiencing significant fluctuations in lumber prices, with a recent 2.0% increase from last week and a 5.9% rise from last year. This volatility is caused by factors like increased demand, supply-chain disruptions, tariffs, and decreased domestic production, especially in softwood lumber. Since lumber and materials like plywood and OSB constitute a large portion of construction costs, these price hikes can greatly impact project budgets. Builders often face immediate cost increases as wholesalers adjust prices quickly, complicating project timelines and affecting housing affordability. Developers and owners must stay informed about these trends to manage their budgets and expectations effectively.
Continue reading this article.
Los Angeles’ Data Center Revolution: Redefining Commercial Real Estate
A digital transformation is reshaping downtown Los Angeles as traditional office spaces are converted into data centers. One Wilshire has shifted from a corporate hub to a key internet connectivity center with extensive fiber-optic networks and servers. The demand for digital infrastructure from cloud computing and streaming services has driven a real estate boom, prompting developers to repurpose properties. However, challenges like the need for reliable power sources and skilled professionals persist. As data centers gain prominence, they are revitalizing parts of Southern California’s commercial real estate market.
Continue reading this article.
Conclusion
One day away from what most people are calling the most divisive and polarizing election of our generation, or is it? Sure, both parties have slung mud back and forth, but that is nothing new. Both have used disinformation to alter the narrative to meet their agenda, but again, nothing new. It is highly unlikely that either party will garner enough votes to win the White House, Senate, and House. The only way to have a sea change in the country is to have control of all governing bodies. It is clear that will not happen for either party.
As I ask myself the pros and cons of either party winning, I reflect back on my career of many decades and have come to the conclusion that no election has made even a modest change in the companies I have worked for or my own. Yes, at times I have paid a little more or less in taxes. Yes, there have been times a new regulation or law came to pass that we had to comply with, but none materially changed the way I have managed my business.
Businesses with a sound culture do not change with the times or with a different political party in charge. Sound businesses hire good people with good character and work hard to bring value to the clients that hire them. They do it to make a fair profit. They do it to give back to the communities that they live and work in. They do it to give a future to the men and women who devote a third of their waking hours to the company.
If you truly look back at the things that have changed us as a country over the last eight years, it has been large social and cultural events: the COVID-19 pandemic, the Black Lives Matter movement, and Elon buying Twitter. All have profoundly changed our society way more than any politician. These are “We The People” type events where we as citizens gather together to create change.
I do believe that for America to continue to be the greatest nation in the world, we must force ourselves to reach across the boundaries of our differences and find the things that we can agree on. We spend far too much time focusing on the things that divide our great nation.
Ronald Reagan and Tip O’Neill were very different in their views of how to move the country forward, yet after work, they regularly had dinner together.
What would you do if your daughter and son had very different political views? Would you not have family trips or celebrate amazing moments in life? No, you would invite them both over for Thanksgiving, share a meal, and be thankful that we live in a country where all speech is protected, where all people are cherished not for the things that are in common, but for their unique differences.
Sincerely,
Jeff Hall
President & CEO
Online
Online
Get in Touch
Get in Touch
Commodity
12 Month % Change
1 Month % Change
Softwood Lumber
-2.2
2.5
Hardwood Lumber
1.8
-0.2
General Millworks
2.6
0.1
Soft Plywood Products
-10.0
0.9
Hot Rolled Steel
-8.3
-2.2
Copper Wire & Cable
9.5
0.3
Power Wire & Cable
3.3
-1.3
Builder's Hardware
-0.6
0.0
Plumbing Fixtures
1.8
0.0
Furnaces and Heaters
2.3
0.0
Sheet Metal Products
1.1
-0.2
Electrical Lighting Fixtures
1.5
0.0
Nails
-8.8
0.4
Major Appliances
-1.0
-2.1
Ready-Mix Concrete
4.5
0.3
Asphalt Roofing & Siding
1.3
0.9
Gypsum Products
4.7
0.0
Insulation
8.0
1.2
Breaking Barriers: Empowering Young Women in Construction
The construction industry is actively addressing its labor shortage by encouraging young women to pursue careers in trades through programs like Colorado’s “Transportation & Construction Girl” (T&C Girl). This initiative provides hands-on experiences and challenges stereotypes about women in construction, with only 14.3% of the workforce currently being female. T&C Girl offers girls aged 13 to 20 opportunities to engage with various trades, helping them overcome fears related to heavy machinery and fostering confidence. On a national level, the U.S. Department of Commerce is launching the Million Women in Construction initiative, aiming to double women’s representation in the industry over the next decade. Industry leaders have pledged to implement equitable hiring practices and provide supportive services, signaling a commitment to a more inclusive construction workforce.
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
-3.5%
READY MIX CONCRETE
+0.8%
ASPHALT PAVING
+1.0%
PORTLAND CEMENT
-4.9%
ALUMINIUM SHEET
+0.4%
REINFORCING BARS
-0.9%
WIDE FLANGE
-1.8%
STAINLESS-STEEL SHEET
+2.1%
CORRUGATED-STEEL PIPE
-0.2%
DUCTILE-IRON PIPE
+0.8%
PVC WATER PIPE
-0.9%
REINFORCED CONCRETE PIPE
-2.2%
GYPSUM WALLBOARD
-1.0%
PARTICLE BOARD
+0.4%
PLYWOOD
-0.4%
LUMBER
-2.6%
Sources
Paragon compiles the latest and most accurate information. It’s worth noting, some sources release data more or less frequently.
Cost Overview of Building Supplies: November 2024
Surf Parks Boom: Bringing the Waves Inland in 2024
Surfing’s popularity in the United States rose by 28.5% in 2023, partly due to its Olympic debut, which attracted new fans. The need for accessible surfing has fueled growth in the surf park industry, where artificial wave technology lets people far from the coast enjoy riding waves. By 2028, the surf park market is expected to hit $3.8 billion, with nine new parks opening in 2024. Innovations from companies like American Wave Machines and the Kelly Slater Wave Company are creating authentic wave experiences everywhere.
Electrifying the Future: The Rise of Sustainable Commercial Construction
As sustainability gains importance, the commercial construction industry is adopting electrification to lower carbon emissions and meet regulations. A recent Guidehouse Insights report forecasts the electrification market will grow from $91.3 billion in 2024 to $145.3 billion by 2033. Major drivers include environmental benefits, cost savings, and improved resilience against power disruptions. However, challenges like high upfront costs and renewable integration persist. Experts like Krystal Maxwell emphasize that adopting electric systems is crucial for achieving sustainability goals, highlighting the shift to eco-friendly building solutions worldwide.
Lumber Price Volatility: Navigating Cost Challenges in Construction
The construction industry is experiencing significant fluctuations in lumber prices, with a recent 2.0% increase from last week and a 5.9% rise from last year. This volatility is caused by factors like increased demand, supply-chain disruptions, tariffs, and decreased domestic production, especially in softwood lumber. Since lumber and materials like plywood and OSB constitute a large portion of construction costs, these price hikes can greatly impact project budgets. Builders often face immediate cost increases as wholesalers adjust prices quickly, complicating project timelines and affecting housing affordability. Developers and owners must stay informed about these trends to manage their budgets and expectations effectively.
Los Angeles’ Data Center Revolution: Redefining Commercial Real Estate
A digital transformation is reshaping downtown Los Angeles as traditional office spaces are converted into data centers. One Wilshire has shifted from a corporate hub to a key internet connectivity center with extensive fiber-optic networks and servers. The demand for digital infrastructure from cloud computing and streaming services has driven a real estate boom, prompting developers to repurpose properties. However, challenges like the need for reliable power sources and skilled professionals persist. As data centers gain prominence, they are revitalizing parts of Southern California’s commercial real estate market.
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
-2.2
2.5
Hardwood Lumber
1.8
-0.2
General Millworks
2.6
0.1
Soft Plywood Products
-10.0
0.9
Hot Rolled Steel
-8.3
-2.2
Copper Wire & Cable
9.5
0.3
Power Wire & Cable
3.3
-1.3
Builder's Hardware
-0.6
0.0
Plumbing Fixtures
1.8
0.0
Furnaces and Heaters
2.3
0.0
Sheet Metal Products
1.1
-0.2
Electrical Lighting Fixtures
1.5
0.0
Nails
-8.8
0.4
Major Appliances
-1.0
-2.1
Ready-Mix Concrete
4.5
0.3
Asphalt Roofing & Siding
1.3
0.9
Gypsum Products
4.7
0.0
Insulation
8.0
1.2
Breaking Barriers: Empowering Young Women in Construction
The construction industry is actively addressing its labor shortage by encouraging young women to pursue careers in trades through programs like Colorado’s “Transportation & Construction Girl” (T&C Girl). This initiative provides hands-on experiences and challenges stereotypes about women in construction, with only 14.3% of the workforce currently being female. T&C Girl offers girls aged 13 to 20 opportunities to engage with various trades, helping them overcome fears related to heavy machinery and fostering confidence. On a national level, the U.S. Department of Commerce is launching the Million Women in Construction initiative, aiming to double women’s representation in the industry over the next decade. Industry leaders have pledged to implement equitable hiring practices and provide supportive services, signaling a commitment to a more inclusive construction workforce.
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
-3.5%
READY MIX CONCRETE
+0.8%
ASPHALT PAVING
+1.0%
PORTLAND CEMENT
-4.9%
ALUMINIUM SHEET
+0.4%
REINFORCING BARS
-0.9%
WIDE FLANGE
-1.8%
STAINLESS-STEEL SHEET
+2.1%
CORRUGATED STEEL PIPE
-0.2%
DUCTILE-IRON PIPE
+0.8%
PVC WATER PIPE
-0.9%
REINFORCED CONCRETE PIPE
-2.2%
GYPSUM WALLBOARD
-1.0%
PARTICLE BOARD
+0.4%
PLYWOOD
-0.4%
LUMBER
-2.6%
Cost Overview of Building Supplies: November 2024
Conclusion
One day away from what most people are calling the most divisive and polarizing election of our generation, or is it? Sure, both parties have slung mud back and forth, but that is nothing new. Both have used disinformation to alter the narrative to meet their agenda, but again, nothing new. It is highly unlikely that either party will garner enough votes to win the White House, Senate, and House. The only way to have a sea change in the country is to have control of all governing bodies. It is clear that will not happen for either party.
As I ask myself the pros and cons of either party winning, I reflect back on my career of many decades and have come to the conclusion that no election has made even a modest change in the companies I have worked for or my own. Yes, at times I have paid a little more or less in taxes. Yes, there have been times a new regulation or law came to pass that we had to comply with, but none materially changed the way I have managed my business.
Businesses with a sound culture do not change with the times or with a different political party in charge. Sound businesses hire good people with good character and work hard to bring value to the clients that hire them. They do it to make a fair profit. They do it to give back to the communities that they live and work in. They do it to give a future to the men and women who devote a third of their waking hours to the company.
If you truly look back at the things that have changed us as a country over the last eight years, it has been large social and cultural events: the COVID-19 pandemic, the Black Lives Matter movement, and Elon buying Twitter. All have profoundly changed our society way more than any politician. These are “We The People” type events where we as citizens gather together to create change.
I do believe that for America to continue to be the greatest nation in the world, we must force ourselves to reach across the boundaries of our differences and find the things that we can agree on. We spend far too much time focusing on the things that divide our great nation.
Ronald Reagan and Tip O’Neill were very different in their views of how to move the country forward, yet after work, they regularly had dinner together.
What would you do if your daughter and son had very different political views? Would you not have family trips or celebrate amazing moments in life? No, you would invite them both over for Thanksgiving, share a meal, and be thankful that we live in a country where all speech is protected, where all people are cherished not for the things that are in common, but for their unique differences.
Sincerely,
Jeff Hall
President & CEO
Jeff Hall
President & CEO
Online
Get in Touch