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It's something to keep in mind if you are building a home - or really anything - this year. Spending Forecast for 2022 is expected to increase +3.0%. Construction uses slightly less than 40% of all steel and that is predominantly fabricated structural steel. Producer Price Index tables published by AGC show input costs to nonresidential buildings up about 18% for 2021. When using non-localized, national average cost data for 2021, the total estimated cost comes to $12.1 million. 2022: Consolidation and rebalancing. The single-family median price went up by 0.6% YoY to $891,770. This is primarily due to the fact that China is the worlds largest producer and typically the biggest consumer of steel. Owners should also make sure that escalation contingencies are being carried in addition to general contingencies to combat constant inflation. When construction activity is increasing, total construction costs typically increase more rapidly than the net cost of labor and materials. update 11-16-22 PPI INPUTS table and FINAL DEMAD table for October updated 11-16-22. update 12-1-22 PPI INPUTS table for November updated 12-10-22. The most recent year drop in volume, while jobs increased, added 4+% to nonresidential buildings inflation for the year. Engineering News Record Building Cost Index (ENRBCI) and RSMeans Cost Index are other examples of commonly used indices that do not capture whole building cost. It shows up in this following plot, the volume of work Put-In-Place per job. In general, there is a clear upwards trend with some steeper growths during some periods. That is not normal. Any project delay can slow down your business and force you to reject clients because of a backlog. So that means there was a 7% increase cost to build a residential home from last year, is that correct? Ms Bailey noted that due to price rises being factored in construction contracts, the risk ahs been mitigated to developers. Thanks. Improve Cashflow, bid on bigger projects, and get control of material financing. Declines continue into 2021. The IHS Markit index, a leading indicator measuring wage and material inflation for the engineering, procurement and construction sector, fell to 76.7 in June from 79.1 in May. Jobs are up 41%. The materials supply situation is expected to stabilise by 3rd quarter 2022 and prices will rise by 12% over the forecast period (4Q2021 to 4Q2026). According to the National Association of Home Builders, they believe families should expect increased interest rates and market turmoil. Home Behind the Headlines Construction Inflation 2022. Aside from costs, the most pressing issues for most construction materials right now are lead times and delays. BLS reports ALL construction jobs (~7.5million) and Production jobs (~5.5million). Residential has gone as high as 10%. Is there a report for other states? Take note of the top six indices reported here. By the end of 2023 volume is still down 3% from Feb 2020. Some materials prices are easing, and this will continue if supply chains receive no further shocks. One national resource is reporting only 1.9% inflation for 2021! That should impact jobs, but we havent seen jobs react to volume losses as would be expected. This is national. The forecast for year-over-year price escalation in 2022 remains between 9% to 12%, said Michael Hardman, vice president of Turner & Townsend, a U.K.-based global real estate and infrastructure . A pioneer of Job Order Contracting, Gordians solutions also include proprietary RSMeans data construction costs and Facility Intelligence Solutions. You can submit your details in this form to obtain more information about how to get started with Billd today. Construction AnalyticsConstruction Inflation IndexTablesfor indices related to Nonbuilding Infrastructure work and for many more links to sources. Feb 2022 total was the highest level of new starts on record. 2021 Input costs for Residential and Nonresidential Buildings is the highest on record. Click here to watch the full 2022 Construction Cost Changes webinar and hear how the prices of specific materials have risen or fallen over the past year, plus gain insight into how the the construction industry market might shift in 2022. Thats a lot of data! Inflation, high wages and other price increases have cut into contractors' bottom lines in 2022. Residential volume for 2021 is up +10% while Nonresidential Bldgs volume is down 10% and Non-bldg volume is down 7%. In this case, bigger might be better to maintain success going forward. 2022 Residential Inflation 12.8%, Nonres Bldgs 9.4%, Non-bldg Infra Avg 5.6%. Change), You are commenting using your Twitter account. 120-Day Payment Terms. Nonresidential construction volume appears now will experience only slight dip mid-2022, the maximum downward pressure from the pandemic is past. We can always expect some margin decline when there are fewer nonresidential projects to bid on, which typically results in sharper pencils. 2020 Rsdn Inflation 4.5%, Nonres Bldgs 2.6%, Non-bldg Infra Avg -0.3%, 2021 Rsdn Inflation 13.2%, Nonres Bldgs 6.7%, Non-bldg Infra Avg 7.5%, 2022 Rsdn Inflation 11.7%, Nonres Bldgs 6.3%, Non-bldg Infra Avg 5.5%, 2020 Rsdn Inflation 4.6%, Nonres Bldgs 2.7%, Non-bldg Infra Avg -0.3%, 2021 Rsdn Inflation 13.4%, Nonres Bldgs 6.8%, Non-bldg Infra Avg 7.8%, 2022 Rsdn Inflation 14.6%, Nonres Bldgs 9.9%, Non-bldg Infra Avg 12.0%. Left unabated, these price increases will undermine the economic case for many development projects and limit the positive impacts of the new infrastructure bill. Forecast 2022 starts are up +11%. Residential spending is forecast up 13% for 2022, but a forecast for 11.7% residential inflation slows volume growth to 2.3% for the year. As a result, slower growth still means increasing prices. Since 2016, inflation exceeded spending by almost 20%. Selling price indices track the final cost of construction, which includes, in addition to costs of labor and materials and sales/use taxes, general contractor and sub-contractor margins or overhead and profit. Its not a bad time to sell a construction firm because the outlook is pretty good, and investors right now are paying a lot for enterprises that generate good cash flow, Basu says. The average sales price of a new home was $511,000 in February. That low caps a nine-month decline in lumber prices . With all steel representing 16% of total building cost then final cost of building would be up 4%. It is expected, that the prices will climb to around 51 p/kWh, which would bring the number to 37 536 pounds. In a strange instance of parity, 71% of both construction material costs and equipment rates increased. : https://www.census.gov/construction/nrs/pdf/price_uc.pdf The firm cited financial pressures such as inflation, labor shortages, supply chain challenges, Covid-19, and Russia's invasion of Ukraine as causes for the sharp rise. After . Revisions to 2022 inflation. And the forecast still shows total construction volume from Feb 2020 down 2% by the end of 2023. Residential business volume dropped 9% from the March 2020 peak to the May bottom, but then by December recovered 16% to hit a post Great Recession high, 11% above Dec 2019. WEONEIL CONSTRUCTION As of 15th March 2021, House rebuilding costs increased by an average of 7.3% nationally over the last 18 months. That is unusually low, well below the range of 5% to 16% and the average of 9% for other nonresidential buildings indices. Its 5 pct Q4 2021 vs Q4 2020, but avg 2021 vs avg 2020 is 1.9 pct. Nonresidential volume dropped every month in 2020 after the February 2020 peak, down 19% by December, but thats not the bottom. Final costs of contractors and buildings is up 5.3%. The prices of goods used in residential construction rose again in March and are up 8% since the start of 2022, the National Association of Home Builders reports citing Bureau of Labor Statistics data. That was at a time when business volume dropped 33% and jobs fell 30%. Example: What is cost inflation for a building with a midpoint in 2021, for a similar nonresidential building whose midpoint of construction was 2016? The FHWA highway index increased 17% from 2010 to 2014, stalled from 2015-2017, then increased 15% in 2018-2019. For Dec21 vs Dec20, Residential jobs are up 75k, Nonresidential Bldgs up 61k and Nonbuilding up24k. Normally, contracts close about 6-8 weeks after a contract is firm, which means the data youre seeing is reported in real-time. After adjusting for inflation, Residential volume for 2022 is forecast up only 2%. The industrial market is expected to pace the building construction upturn this year and next, with projected gains of over 9% this year and more than 8% . Several of the links to sources are included above in this article. Higher mortgage rates and a slowdown in DIY home renovations are easing demand for lumber, Insider says. Transportation, a source of long duration projects, is also contributing to that decline. Copper. From supply and demand to the strength of the American dollar, seasonality to global pandemics, these factors and more combine to determine the price of steel for manufacturers, buyers, and consumers. It doesnt speak to the levels at which they are increasing, which can be found by consulting specific line items in the database. Prices declined in the Midwest (-0.4%) and South (-0.3%) and were unchanged in the West. As noted previously, most reliable nonresidential selling price indexes have been over 4% since 2014. But we gained back far more jobs than volume. The sub-index for current subcontractor labor costs came in at 89.1 in June, another monthly increase from Mays 85.8. Now it is 35%. Examples include self-healing concrete, flexible concrete, and transparent aluminum, which allows architects to design glassy structures that are much lighter in . As of December 2021, jobs are down 2% from February 2020 peak. Western Australia and Queensland are expected to record 7% and 6% year-on-year construction cost increases the highest among the states. Residential business volume is no stranger to hefty increases in spending and volume. Construction consultant Linesight released new data showing that stability may be returning to the cost of construction materials in the U.S., even as IHS Markits Engineering and Construction Cost Index forecast a slowing rate of construction-input inflation in the coming six months. . The construction data leading into 2022 is unlike anything we have ever seen. In 2021, Nonresidential Buildings jobs increased by slightly less than 1%, but construction volume was down 10%. These two words, Inflation and Escalation, both refer to the change in cost over time. It appeared the cost of wood might hover close to those pre-pandemic levels for some time. Traveling Construction Jobs No Experience, General Construction Laborer Job Description, Construction Management Salary Entry Level, Warehouse Construction Cost Per Square Foot 2021, New Construction Electrical Cost Per Square Foot. First of all, they will satisfy the needs of large developers, it will become more difficult for private owners and self-builders to buy building materials. Change), You are commenting using your Facebook account. Survey responses showed labor costs continued to rise in all regions of the U.S. and Canada. Inflation for both was over 8%. These issues are all present now and all work to increase inflation. Both the nonresidential buildings and the non-building plots show there has been no substantial increase since Feb 2020 in volume to support jobs growth, and there is little to no help in 2022. But some sources expect gains to moderate from 2021. The best approach is to control what is in your control. (LogOut/ After adjusting for inflation, total all construction volume in 2021 was down -1.1%. As a result, some contractors have used alternative financing to obtain more expensive materials and other resources so they arent limited by cash flow. Contact: David Logan. BCIS forecast tender prices to rise by 20% in the five years to 2Q2027. Residential construction inflation in 2019 was only 3.4%. Can I somehow extrapolate a general overall residential construction price increase from say March 2021 to March 2022? Copper, concrete and steel all continue to rise, as do components containing those materials, like pipes, windows and doors. In just the past year, prices for materials used in residential construction have climbed nearly 20%. Prices have surged 35.7% since January 2020, although 80% of the increase has occurred since January 2021. Both of these areas are being affected by supply chain bottlenecks, transportation issues, component shortages and rising fuel costs, all of which have been well documented in publications and news cycles. A few are still reporting only 2% to 4% inflation for 2021, but several have moved up dramatically, now reflecting between +10% to +14%. "Lumber futures, which are traded on the Chicago Mercantile Exchange, are about $200 per thousand board feet for March and May 2022, or 30% higher than they are now, suggesting some traders expect lumber . In reality, there was an unexpected boom in real estate demand, the likes of which had not occurred since 2006. The IHS Refinery, Petrochemical plants index fell 10% from 2014 to 2016. This growth represents the largest increase in construction costs since 1970, forcing construction companies to raise prices to maintain their profit margins. Also the average final demand increase cost for residential is up 16% and final demand cost for nonresidential bldgs is up 4.8% in the 1st quarter. When it comes to lumber, the 316% increase in price since the beginning of 2020 is adding a whopping $36,000 to the cost of building a new home. 16% is the Census Index year-over-year for Feb 2022 vs Feb 2021. 201 Lomas Santa Fe Drive | Suite 380 | Solana Beach | CA 92075. The IHBA also state there has been an estimated 4% rise in bricks prices since December 2019 and a 1% increase in 2021 alone. The US Census Bureau says that's the largest year over year increase in material costs since 1970. The CA Infrastructure composite index is useful only for adjusting the grand total cost of all non-building infrastructure. BCIS Materials Cost index is based on the materials component of the Price Adjustment Formulae Indices . Early procurement of Mechanical and Electrical equipment is becoming a must for Owners to start projects on time. The record high and the rising costs of lumber have made headlines recently, but signs of improvement offer some hope to homebuilders. Materials costs have been skyrocketing this year in almost every building materials category (below). Indices posted here are at middle of year and can be interpolated between to get any other point in time. Also Check: Raleigh Nc New Construction Homes. The spread is from 2% to 16%, wider than ever seen in any other year. . Per 50 kg bag. He said: "Amidst a buoyant global construction industry seeking to rapidly decarbonise using sustainable, low-carbon products such as timber, supply may again tighten as we move into Q2 2022. The most unexpected change was that residential spending continues a strong increase. Mike, page 11 of the report has an index table of values and a How to Use. from 2015 to 2019 averaging +25% inflation for 5 years. Almost all gains in 2021 spending are due to the 23% gain in residential. Cement Price 2023: 4 to 5 dollars per 50 kg bag or 320 to 400 Rs. With the pandemic and increase demand from DIY projects and the housing industry. 2020 spending increased only 0.7%. Daniel, For example, I can expect to pay x% more to build a house this year, than last year. Jobs dropped 14%, 1,100,000+ jobs, in two months! Is this applicable? Jobs growth without volume growth to support those jobs is a productivity decline, increasing inflation. This translates to approximately 73.6 MWh. When these plot lines grow wider apart with jobs above volume, that is a sign of a productivity decline. There are so many issues that can trip a contractor up, its amazing that you deal with so much risk on an ongoing basis, and you seem to manage through that process, Basu says. Residential business volume dropped 9% from the March 2020 peak to the May bottom, but then by December recovered 16% to hit a post Great Recession high, 11% above Dec 2019. A boom in residential construction activity across advanced economies saw the real value of global construction work done rebound 2.3% in 2021. Yes, the cost in 2022 would be 7% more than 2021. Building materials prices increased by 25% last year but costs may be stabilising. Nonbuilding starts were down 15% in 2020, then added 8% in 2021. But annual averages tell a much different story. This combination of factors leads JLL to extend its forecasts for 4.5 to 7.5 percent final cost growth for nonresidential construction in calendar year 2021 and to predict a similar 4 to 7 percent cost growth range for 2022. A contract is closed when the transaction actually occurs and the buyers move into the house. The Construction Analytics Infrastructure composite index is useful only for adjusting the total cost of all non-building infrastructure. All said, it seems we will be living in an unstable market for quite some time. Many things have been in short commodity since the pandemic. Nonresidential buildings starts fell 18% in 2020, but gained 18% in 2021. For example, with construction inflation increasing at 3% annually, a nonresidential building spending decline of -2% would reflect a work volume decline of 5%. These two reporting methods cannot be mixed. Jobs and Volume of work growth should move in tandem, as seen in the above plot from 2011 to Jan 2018. However, construction costs don't increase at identical rates across . If jobs increase faster than volume, that adds to productivity losses and adds to inflation. How to use an index:Indexes are used to adjust costs over time for the effects of inflation. This graphic might represent how most owners and estimators reference these two terms. One of the best predictors of construction inflation is the level of activity in an area. Also Check: New Construction Homes In Conyers Ga, 2022 ConstructionProTalk.com Contact us: constructionprotalk.com, 2022 Real Estate, Luxury Market, and Construction Costs Forecast, Steel & Construction Forecasts: Steel Market Update Q3 2022, Construction 2022 Roof Decking Cost, Material Quantity & Labour Cost -Jamaica, How to Get Construction Funding Going Forward. Quarter. The general demand for . AVG 2021 vs AVG 2020, Rsdn+153k (+5.3%), Nonres Bldgs +28k (+0.8%), Non-bldg +9k (+0.9%). Residential inflation in 2021 jumped to 13.2%, the highest on record back to 1967. 2021 new starts increased +18%. Its in this context of frenzied market movements and a foggy future that our 2022 RSMeans data launched. The 2015-2023 table has been updated to include all Q1 2022 data where available. How can I determine what X is? CBRE's new Construction Cost Index forecasts a 14.1% year-over-year increase in construction costs by year-end 2022 as labor and material costs continue to rise. See the current price of materials, find the lowest prices among suppliers in your area, and track trends that indicate whether the price is rising or falling. Volume declines should lead to lower inflation as firms compete for fewer new projects. Volume was down -2.5%. Here are some of the top trends in construction for 2022. No one predicted 2021 construction inflation. Then in 2021 input costs soared to 22%, the highest ever recorded. Wage offerings are increasing (up 6% in 2021), productivity is declining (down 7% in last 4 years) and there are many instances of material shortages or delays in delivery (lumber, windows, roofing, cabinets, mechanical equipment, appliances, etc.). Construction inflation has a lot of momentum supported by supply-chain dysfunction, energy and labor cost increases. Nonbuilding starts were down 15%, equivalent to a loss of $50 billion in new work that would likely have been spread over 2-5 years. According to the Bureau of Labor Statistics, construction material prices were up by 25% in 2021, and so far, the cost of construction in 2022 remains high. However, many auto companies have either lowered their steel spending or stopped it altogether because of this microchip shortage. But keep in mind that this number only represents the fact that wages are increasing. New-home costs likely will continue to increase as rising building material costs squeeze construction budgets. And with price increases still rampant, 2022 could also end up being a tough year . Construction costs have increased significantly since the pandemic and challenging profit margins. Most of the spending from those lost starts would have taken place in 2021. But, when comparing those line items to their January 2021 levels, they are trending in the right direction. Although Power plants posted a massive gain in starts in 2019, declines in pipeline starts offset some of that gain. Also, improvements are occurring in the supply chain that had bottlenecked the lumber market over recent months. As demand for new projects continues to grow and contractor backlogs fill, there will be less incentive to bid aggressively, and contractors will aim to pass through cost increases to owners as soon as the market can bear it. Looking forward to your future updates. Jobs are supported by growth in construction volume, spending minus inflation. Oct 3, 2022 'Google Maps for construction aggregates . Dont Miss: New Construction Townhomes San Antonio. From the start of April 2020 through April 2021, the price of lumber has jumped 375%. U.S. Census Single-Family house Construction Indexgained only 4% in 2020. "While most forecasters, including NAHB, do not predict a recession during 2022, the risk of a recession next year is rising. The plot above Spending by Sector is current dollars. Deflation is not likely. Res +22%, Nonres Bldgs +18%, Nonbuilding +8%. During the 2nd Quarter of 2022 with interest rates rising and the housing market declining, we have seen the demand for lumber start to cool down. These costs are captured only in Selling Price, or final cost indices. You May Like: Average Construction Worker Hourly Wage. Jobs are supported by growth in construction volume, spending minus inflation. Selling Price is whole building actual final cost. Trading Economics presents the price of steel according to the Chinese currency called Yuan. Also INDEX TABLES AND PLOTS updated to Q3 or Q4 where available. The rising cost of building materials is the biggest post-Brexit worry for Irish firms, the Central Statistics Office (CSO) has found. A caution here. And even then, the reduction was for a very short time. Lumber prices dropped more than 6% to $829 per 1,000 board feet this week, the lowest of the year, Insider reports. After adjusting for inflation, total volume in 2021 is down 1.1%. Which report is that? While the pandemic was treacherous for contractors, this next early stage of recovery can be as well. What does the future hold for lumber prices? An 18% drop in new nonresidential buildings starts within one year equals a loss of near $100 billion of spending that would occur over the next 2-4 years. Construction Inflation Index Tables + Links. The annual average gives a much clearer indication of jobs growth over the year because it accounts for the peaks and dips of all 12 months during the year. The mill price of steel is about 25% of the final price of steel installed. (LogOut/ Construction costs have been on an upwards climb for more than the last two decades. To move cost from some point in time to some other point in time, divide Index for year you want to move to by Index for year you want to move cost from. Hearst Television participates in various . Construction starts were up in 2021, but backlog leading into 2022 is down. Thats a 11% swing in productivity. Growth in supervisory jobs has had a greater negative impact than production jobs on the spread between jobs and volume. (202) 266-8448. Some materials costs will ease, but the average increase will land somewhere between 5 and 11 percent. Thats the # that is needed, annual inflation. This rate of change is not markedly higher than years past, as wages almost always increase year over year for every trade or skill. As building sites reopened in July 2021, a wave of price inflation has hit construction materials, heaping costs onto beleaguered builders struggling to make up for lost time after a year of intense disruption. And market uncertainty has reduced the shelf life for bids and estimates from weeks to days. 23 September 2019. The annual average inflation for 2021 is up 16% over 2020. https://www.mortenson.com/cost-index. High levels of activity often lead to higher levels of inflation. Their warehouses are stocked up so that they can meet increasing demand and keep the prices competitively low. +6.7% Construction Analytics Nonres Bldgs Mar, +5.4% PPI Average Final Demand 5 Nonres Bldgs Dec, +5.3% PPI average Final Demand 4 Nonres Trades Dec, +1.9% Turner Index Nonres Bldgs annual avg 2021 Q4, +4.8% Rider Levett Bucknall Nonres Bldgs annual avg 2021 Q4, +16% Mortenson Nonres Bldgs annual avg 2021 Mar, +11.7% U S Census New SF Home annual avg 2021 Dec, +7.4% I H S Power Plants and Pipelines Index annual avg 2021 Dec, +7.1% BurRec Roads and Bridges annual avg 2021 Q4, +9.11% R S Means Nonres Bldgs Inputs annual avg 2021 Q4, +10.0% ENR Nonres Bldgs Inputs annual avg 2021 Dec, 2020 Rsdn Inflation 4.5%, Nonres Bldgs 2.6%, Non-bldg Infra Avg -0.3%, 2021 Rsdn Inflation 13.9%, Nonres Bldgs 7.4%, Non-bldg Infra Avg 7.8%, 2022 Rsdn Inflation 15.4%, Nonres Bldgs 12.2%, Non-bldg Infra Avg 13.6%, 2023 Rsdn Inflation 6.0%, Nonres Bldgs 4.8%, Non-bldg Infra Avg 4.3%. AGC April Construction Inflation AlertThe construction industry is in the midst of a period of exceptionally steep and fast-rising costs for a variety of materials, compounded by major supply-chain disruptions and difficulty finding enough workersa combination that threatens the financial health of many contractors. 14% is the average increase for 2021. That makes it even more important to understand labor costs, ensure accurate job costing, and track progress in real . When updating to 2022 data, the cost jumps to $13.2 million, meaning that the identical structure would cost a builder over $1.1 million more on average this year. Although inflation is affected by labor and material costs, a large part of the change in inflation is due to change in contractors/supplier margins. By October, volume reached a low for the year, down 8%. We will provide some background and analysis to reveal how we got here and where prices can be heading in the future. New construction starts reported by Dodgethru Feb are up 15% over the same period in 2021, with residential at a new high and nonresidential near the previous high. For 2020-2021, spending increased 42% and volume was up 20%. The second half of 2020 and first half of 2021 was a fantastic period for residential construction, but with clear evidence that the stimulus-fuelled wave of home buying is waning we expect a drift lower in output over the next 18 months. Due to the pandemic, in many ways the home building industry and customers who buy them have acted counterintuitively. As firms are getting ready for the next generation of construction projects, they take on some expenses, he says. Remarkably, spending increased 15% and 2020 volume was up 10%. As usual, the coming year will neither be feast or famine for the residential construction industry, but rather a little of both. However,escalationis the termoften used in a construction cost estimate to represent anticipated future change, while more often the record of past cost changes is referred to as inflation. The mills can't keep up. Original article attached IS NOT updated. Since 2010, Construction Spending is up over 100%, but after adjusting for inflation, Volume is up only 28%. Although total volume for 2022 is forecast up 1.7%, with Residential volume forecast up 2.3%, Nonresidential Bldgs volume up 4% and Non-building volume forecast down 2.4%, we will not see total construction volume return to Feb 2020 level at any time in the next three years. Cost increases in Q2 of 2022 alone have been in the 8% 10% range and are expected to be 1% 2% per month for the remainder of 2022. In 2021, nonresidential buildings volume dropped 10%. 2-10-22 See the bottom of this post to download a PDF of the complete article. This represents a 1.6% quarterly increase from the Third Quarter 2022 and an 8.29% yearly increase from the Fourth Quarter 2021. Home sales are forecast to soften in 2022, declining by 1.4% with limited listings and affordability becoming growing constraints for buyers, and then by another 3.8% in 2023. . Getting construction funding can help you complete projects sooner so you can avoid that scenario. Looking at the average number of construction jobs in the last 4 years, the average of 2021 jobs vs the average of 2017 jobs, production jobs increased +5%, but supervisory jobs increased +12%. In January 2021, I had forecast We will not see construction volume return to Feb 2020 level at any time in the next three years. As of April 2022, not all nonresidential sources have updated their Q4 inflation index. Billd gives contractors 120-day terms to finance construction materials. dlogan@nahb.org. % Change. No single solution will resolve the situation.. http://turnerconstruction.com/cost-index, Rider Levitt Bucknall nonresidential buildings index average for 2021 is up 4.8% from 2020. https://www.rlb.com/americas/, Mortensons cost index of nonresidential buildings data is posted through Q4 2021.