Using cost data that is more than one month old is risky in today’s construction market. Commodities are fluctuating due to conditions beyond “usual or customary” construction supply and demand. When using historical information perform a double check on your cost data by reviewing commodity prices for the past month, six months, year and five year periods. Use alternate and multiple sources for published data on cost changes. Remember, what the government reports for cost growth is not necessarily a good indicator to use in forecasting costs.
Mike Rowe
