Over the past 18 months, Hickory Construction has observed a steady decline in construction costs that translate into substantial savings for consumers and homeowners. The decline is largely due to the increased availability of skilled craftsmen in various building trades, who are providing very competitive bids.
While some material prices such as lumber and steel are on the increase, most of the major cost indexes tracked by Engineering News Record show other material costs are less than last year. In January, the U.S. Commerce Department reported a 3.6% decline in national construction costs. In our area, we see building costs down as much as 15% from where they were just two years ago.
These price reductions create a unique opportunity to save money on everything from minor repairs and maintenance to larger construction projects both at home and at the office. With many reports indicating material costs have most likely bottomed out, there may not be a better time to start a new project. If you have plans to start a construction project, please consider Hickory. As always, we are at your service.