Pence has begun tracking and providing quarterly overviews of the construction commodity market. We invite you to download the latest update below.
Q3 2021 Summary:
Construction escalation and supply chain issues are two issues which the stability of the industry is determined. Although construction commodities have continued their steady rise through the third quarter of 2021, they are beginning to stabilize. On the other hand, disruptions to the supply chain present challenges in the form of decreased availability and increased lead and shipping times. Commodities like steel and lumber continue to trend upwards in both cost escalation and lead time increases. Other construction commodity staples like insulation and glazing that haven’t necessarily seen an uptick in cost are seeing increased lead times. Overall, supply chain and COVID procurement hurdles have added one to two months onto a typical construction schedule.