Verisk Industry Trends for April 2019

In September 2017, significant tariffs as well as demand changes in the industry caused a drastic spike in the cost of lumber in both the United States and Canada. As a result, lumber costs increased 10.38 percent in Canada and 7.43 percent in the U.S. from August to September. Since that time, the lumber market has been very volatile. However, the Industry Trend Report shows that lumber prices in the United States decreased every month since August 2018; Canada also experienced a monthly decrease to lumber costs with the exception of a slight increase in December 2018. Lumber prices have increased 14.59 percent in the U.S. and 8.38 percent in Canada when we compare August 2017 to April 2019. However, when we compare September 2017 to April 2019, lumber prices have increased at a much slower rate: United States had an increase of 0.89 percent and Canada had an increase of 3.81 percent. For the full trend line and additional details, visit the Industry Trend Report.

These percent changes are based on the averages that have been reported since the March 2019 price list publication and from April 2018 to April 2019. 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.

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 March 2019 publication, gasoline prices increased 9.75 percent in the United States and 11.21 percent in Canada. When compared to April 2018, gasoline prices decreased 0.9 percent in the United States and 3 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. In March, they added eleven new vendors: Bike Mania Biz, Bob Ward’s, Bowling.com, Diamondback, Eastern Mountain Sports, Hockey World, LAX Zone, Musician’s Friend, Shane Co., Stag Arms, and The Mattress Firm. 

United States