Verisk Industry Trends for July 2020
Xactware's Pricing Data
LEHI, Utah — Wednesday, July 1, 2020 —
The July 2020 price list updates for more than 460 regions in the United States and Canada are now available for download.
Pricing research for the July 2020 publication shows that average costs for labor and materials used in claims and remodeling increased in every key pricing component. The Retail Labor Rates increased 0.71 percent in the United States and 0.64 percent in Canada since the June 2020 publication, and since July 2019, the Retail Labor Rates increased 6.41 percent in the United States and 5.48 percent in Canada.
Pricing News — 2020 - July
All reported percent changes are based on the averages that have been reported either since the June 2020 price list publication or from July 2019 to July 2020. The information reported here is based on a national average, and it is important to note that actual changes will vary within each 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.
Personal Protective Equipment
Due to the current impacts of COVID-19, Xactware is closely monitoring the cost of personal protective equipment (PPE). Since March 2020, the average national cost of PPE items increased 43 percent in the United States and 42 percent in Canada.
We will continue to monitor this situation and report changes as they arise.
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 June 2020 publication, gasoline prices increased 8.62 percent in the United States and increased 7.56 percent in Canada. When compared to July 2019, gasoline prices dropped 19.78 percent in the United States and 13.05 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* |
|||
|
Jun. 22 |
May 25 |
Jun. 23 |
May 26 |
|
|
Gasoline National Average |
2.129 |
1.96 |
1.053 |
0.979 |
* 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
|
Vendors |
153 |
|
General Quote Items |
6,370 |
|
Master Item List Items |
60,502,639 |
|
Retired Items |
357,305 |
Canada
|
Vendors |
44 |
|
General Quote Items |
6,347 |
|
Master Item List Items |
7,390,586 |
|
Retired Items |
318,567 |
Changes to the July price list
We added new items to the June price lists under the following categories:
- CHF (Cont: Clean - Hard Furniture) - Items added for cleaning wood benches and shoe organizers
- CNC (Concrete and Asphalt) - Item added for concrete grinding.
- DOR (Doors) - Items added for additional sizes of sectional overhead doors.
- ELS (Electrical - Special Systems) - Items added for wireless nurse call stations.
- FCW (Floor Covering - Wood) - Item added for concrete grinding.
- HMR (Hazardous Material Remediation) - Items added for dry ice and soda blasting exposed framing with sheathing.
- PLM (Plumbing) - Items added for installing large shower pan liner per square foot and for shower drain only.
- SPE (Specialty Items) - Items added for plastic mailboxes.
- WTR (Water Extraction & Remediation) - Items added for dry ice and soda blasting exposed framing with sheathing.
Customers can view price list modifications on the eService Center. XactAnalysis customers can see the same report by selecting the Price List Changes report in the Industry Trend Reports.
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 or check out our Xpert Tip on how to submit feedback in Xactimate.
More Information
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.
For information on how to quickly find similar and related estimate items, watch our Xpert Tip.