Did you know that as rates of inflation has increased in our economy it has affected our industry and the effects are showing. Essential materials and skilled labor significantly more expensive, but supply chain pressures and shortages are making it harder to secure needed construction materials.
Construction materials such as steel, lumber, and more have been increasing in pricing. Most contractors operate on slim margins, increased costs are impacting the bidding process. The steep recent price increases make it extremely difficult to estimate future costs. Delays in getting materials on site due to supply chain challenges often mean that the timeline for a project’s completion is often late.