Verisk Industry Trends for March 2022

All reported percent changes are based on the averages that have been reported either since the February 2022 price list publication or from March 2021 to March 2022. 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 Verisk’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.

Lumber Trend

Since March 2021, lumber prices have shown an increase of 24.24 percent in the United States and 28.74 percent in Canada, and over the last month lumber prices have continued to show an upward trend. Sheathing materials have followed a similar trend over the last month, showing an increase of 32.91 percent in the United States and 23.78 percent in Canada since March 2021. As supply and demand for common lumber materials continues to change, Verisk will monitor these changes and make warranted adjustments from focused surveys with suppliers for each monthly price list publication.

Local market conditions

Verisk 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 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 February 2022 publication, gasoline prices increased 6.23 percent in the United States and 6.79 percent in Canada. When compared to March 2021, gasoline prices have increased 34.10 percent in the United States and 31.00 percent in Canada.

Because gasoline prices can change rapidly, Verisk 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

Top 200 Items Trend

Since the February 2022 price list publication the Top 200 Items by Total Spend showed an increase of 0.90 percent for Canada and 14.42 percent since March 2021. The United States showed a 0.81 percent increase since the February 2022 publication and an increase of 15.42 percent since March 2021.

The Top 200 Items by Use showed a 0.81 percent increase since the February 2022 publication for Canada and an increase of 10.10 percent since March 2021. The United States showed a 0.99 percent increase since the February 2022 publication and an 11.80 percent increase since March 2021.

The Top Items by Use represents the items that were the most used in claims coming through our system and the Top Items by Spend represents the items that had the highest total spend.