Verisk Industry Trends for June 2018

The most significant annual change occurred in the Common Lumber Material report which showed an 18.59 percent increase in the U.S. and a 19.14 percent increase in Canada. Many factors may have impacted this drastic increase including the fires in British Columbia and new tariffs on imported lumber.

These percent changes are based on the averages that have been reported since the May 2018 price list publication and from June 2017 to June 2018. The information reported here is based on a national average, and it is important to note that actual changes will vary within each individual pricing market. It is also important to remember that Xactware’s published pricing information is based on recently completed surveys and estimate transactions.

For more information about these trends over a longer period of time, read the Quarterly Pricing Trends or the Annual Property Report.

Ontario Windstorms

Windstorms battered Ontario and Quebec in the beginning of May. Thousands were without power after wind gusts of close to 120 kilometers per hour. The storm had a significant impact on prices in the area.

In southern Ontario, retail labor rates for siding installation increased 7.9 percent since the May price list publication and roofing labor rates increased 8.6 percent. The number of estimates submitted increased 88.8 percent over the last month. 

Xactware closely monitors the impact of disasters on item pricing. If needed, we will publish an interim price list to give those working in damaged areas the most accurate prices. As prices can change rapidly in the aftermath of any disaster, Xactware cannot guarantee that the prices within the published database will be adequate for any specific job. We strongly recommend that all customers monitor their local market for any such changes and adjust your estimate pricing as is appropriate.

Local market conditions

Xactware makes every effort to ensure pricing information contained in this update represents market costs at the time of publication. Since actual market prices can vary and change rapidly, and since many factors can affect the cost of a project (including—but not limited to—labor, equipment, and material costs as well as the rates and application of sales tax), we strongly recommend customers monitor their local markets for any such changes and adjust their estimate pricing as deemed appropriate.

Gasoline prices in the U.S. and Canada

Since the May 2018 publication, gasoline prices increased 4.08 percent in the United States and 1.3 percent in Canada. When compared to June 2017, gasoline prices increased 23.1 percent in the United States and 20 percent in Canada.

Because gasoline prices can change rapidly, Xactware recommends users monitor their local costs to determine whether repair or construction costs are affected. For further details, see the U.S. Department of Energy website.

* Canada prices are per liter

XactContents pricing update

Since the last price list update, the XactContents pricing team continued to improve the master item list in both the United States and Canada.

United States

Canada

Customers can view specific changes to the price lists by logging on to the eService Center. XactAnalysis customers can see specific changes by viewing the Price List Changes report in the Industry Trend Reports section. This same report can be found in the Featured Highlights section of the eService Center.

Pricing feedback

Pricing feedback is one of the ways Xactware ensures that the reported cost information reflects actual market prices. Users writing estimates outside program work can return feedback by regularly running the feedback utility within Xactimate, XactRemodel, or XactPRM. Visit our web page for more information about submitting pricing feedback.

Downloading a price list

Xactware’s pricing database is the foundation for many of our products. You can download a price list in Xactimate and XactRemodel, or assign a price list in XactPRM.

For more information about managing price lists, click Help in any Xactware product.