Quarterly Price Updates April 2024

Pricing Trends
April 11, 2024

Updated material prices available now

Every quarter Clear Estimates updates the material price for every region in the U.S., for all 10,000 parts in the database. These updates are automatically available in your Clear Estimates Software. Check out how the prices of different projects have changed regionally this past quarter!

Change in cost of a kitchen remodel and 2 story home addition this quarter

Check out how the cost of a 200 sq. foot kitchen remodel has changed since last quarter:

  • Northeast: +0.9%
  • Southeast: +0.4%
  • Midwest: -0.2%
  • Southwest: -0.4%
  • West: +1.5%

See how the cost of an 800 sq. foot home addition has changed since last quarter:

  • Northeast: +3.4%
  • Southeast: +3.1%
  • Midwest: -1.0%
  • Southwest: +2.3%
  • West: +3.4%

Here are some highlights of the average material price changes nationwide:

  • Cedar decking prices decreased 11.6%
  • Redwood decking prices decreased 4.2%
  • Drywall prices increased 4.0%
  • Pressure treated decking prices decreased 3.1%
  • Stud prices decreased 1.4%

NEW: Part Analysis “Deep Dive”

We strive to deliver the most accurate pricing data in the industry by drawing on a breadth of data sources. Our goal is for the software to be valuable out-of-the-box, requiring you to make as few customizations as possible. This new section gives a glimpse into the effort that takes place behind the scenes. It’s Spring! So for our first Deep Dive we chose to highlight what’s happening around the country (and over time) for the material costs of a pressure treated deck railing. We hope you find it interesting!

The chart on the top left shows how the material costs change depending on your location. Sorry Hawaii and Alaska, we decided to zoom in on the continental US for this one! The blue dots show regions where the prices are relatively low and warmer colors show where the prices are higher, as shown on the color bar to the right of the map. This is simply the raw material costs and does not include labor, markup, etc. The chart on the bottom shows a behavior review of the aggregated average costs indicated for material costs over time. You can see clear evidence of the disruptions that happened during the pandemic for pressure treated building materials. Fortunately, we don’t project any major disruptions for next quarter.

We look forward to bringing you new and exciting information in pricing trends every quarter! Stay tuned for the next update. If you haven't updated to our suggested labor rates for 2024 yet, you can see how to do so by clicking here.

Jack Dean
Jack Dean