Reconstruction Costs — Dropping

Verisk’s Q2 2026 360Value Quarterly Reconstruction Cost Analysis says reconstruction costs dropped in the second quarter of 2026. Those costs include materials and labor rose 3.6% year-over-year. It’s a big hike but not close to the rise of 5.2% in the second quarter of 2025.

On a national scale, reconstruction costs for residences rose 3.2%. For commercial customers suffering loss, costs jumped 4.1%.

The hourly rate for billable labor costs are up 3.63% from 2025. Material labor costs say a small increase of 2.95%. The good news is lumber prices falling 2.3% and concrete and roofing materials seeing price declines, too.

Source link: Claims Journal — https://bit.ly/4wC0lfI