Inflation And The High Cost Of Construction Materials
It certainly seems like everything is expensive right now. Just take a look at your most recent grocery bill for a very real example. Despite inflation trending downward heading into 2023, we still see high prices on construction materials, as well as shortages as supply chains struggle to keep things moving. How will these factors affect construction projects in 2023?
Experts Say We’re Over The Peak
The Labor Department has been reporting that the consumer price index (CPI), a measure of inflation, has been trending down since June 2022. This means we will likely see prices stabilize in 2023 for certain items. In addition, other factors that affect the supply chain have improved, like fuel costs. Overall, it’s expected that 2023 will alleviate many of the supply chain issues for construction materials.
Dunlap Prepares For The Unexpected
We are excited for the year ahead, despite the fact that we will likely still face both expected and unexpected challenges. Labor shortages continue, which can lead to long lead times in acquiring materials and installation. And, after the recent cold snap in our area wreaked havoc on the local water supply, we can’t underestimate the power of Mother Nature to throw a wrench in things as well. Still, we remain optimistic. With our tried and true 3-step construction process and a highly vetted team of vendors and subcontractors, we expect to be able to manage anything 2023 will bring.
Work With Us In 2023
Get started with Dunlap on your next project by scheduling a consultation with us. We are more than happy to sit down with you to have an honest discussion about how construction is shaping up for 2023, and how we handle the unpredictable nature of this industry. Our proactive approach allows us to get ahead of major issues and leaves room for flexibility. Read more about it here. Let’s build something great this year, together.
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