Post-pandemic construction cost spike (2020-2022)
Lumber futures more than tripled from spring 2020 to May 2021 as homebuilding demand collided with mill shutdowns and shipping snarls. Steel, copper and PVC prices followed, and builders faced record input-cost inflation.
Contractors added escalation clauses and slowed bids; some projects stalled.
Prices crashed back as mills restarted and the Federal Reserve raised rates, showing how fast an input spike can unwind.
It is the recent template for a construction-specific cost surge, and for how normalization arrives when supply recovers and demand cools.
