The May 2026 Cost Data reflects a largely stable construction cost environment, with minimal month-over-month movement across the broader market. Building Cost increased 0.20% and Construction Cost increased 0.10%, while Material Cost rose 0.50%, making materials the primary source of movement for the month. Labor remained flat, with both Common Labor and Skilled Labor showing 0.00% monthly change, suggesting no measurable wage escalation during this cycle. The most notable pressure came from steel-related materials, with Wide Flange Steel up 3.50%, Reinforcing Bars up 3.20%, and Structural Steel up 1.40%, indicating continued cost pressure on structural framing and reinforced concrete systems. Cement decreased 4.30%, helping offset some of the material increases, while Lumber rose moderately at 1.30%. Overall, the May report points to a steady and predictable cost environment, with limited escalation primarily driven by select material categories.
Click on the link above to view the latest cost data for May 2026.