Verisk Industry Trends for May 2019
Xactware's Pricing Data
LEHI, Utah — Wednesday, May 1, 2019 —
The May 2019 price list updates for more than 460 regions in the United States and Canada are now available for download.
Pricing research for the May 2019 publication shows that average costs for labor and materials used in claims and remodeling changed slightly in most key pricing components. The most notable change occurred in the Drywall Material report which showed a 1.46 percent increase in Canada from April to May.
Pricing News — 2019 - April
The most significant annual change occurred in the cost of Common Lumber Material which, according to the report, decreased 8.24 percent in the United States and 2.19 percent in Canada.
These percent changes are based on the averages that have been reported since the April 2019 price list publication and from May 2018 to May 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 April 2019 publication, gasoline prices increased 7.28 percent in the United States and 8.06 percent in Canada. When compared to May 2018, gasoline prices increased 1.4 percent in the United States and decreased 0.36 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.
|
U.S. |
Canada* |
|||
|
Apr. 25 |
Apr. 1 |
Apr. 30 |
Apr. 2 |
|
|
Gasoline National Average |
$2.887 |
$2.691 |
$1.381 |
$1.278 |
* 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. They added new general quote items for various grades of pickleball paddles.
United States
|
Vendors |
140 |
|
General Quote Items |
6,311 |
|
Master Item List Items |
33,868,549 |
|
Retired Items |
320,125 |
Canada
|
Vendors |
28 |
|
General Quote Items |
6,288 |
|
Master Item List Items |
7,817,196 |
|
Retired Items |
233,042 |
Changes to the May price list
We added new items to the May price lists under the following categories:
- APP (Appliances) - Items added for cooktops and dishwashers with a zero-dollar placeholder material component.
- DOR (Doors) - Items added for cutting down an interior door.
- PLM (Plumbing) - Items added for capping water lines and for material cost of temporary plugs for drain pipes.
- WTR (Water Extraction & Remediation) - Items added for muck out in confined spaces and for Category 3 disaster cleanup of various materials with no bagging.
Price lists for Xactimate version 27 are no longer being published.
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.
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.