Report: uncertainty raises construction costs by 12.4%

Uncertainty is making construction more expensive. A new global survey found it's pushing project costs up by 12.4%, along with more delays, tighter budgets and more canceled projects. If you're a homeowner or contractor in New Jersey, Pennsylvania or New York, the lesson is simple: plan for price swings before work starts. Clear contracts help. So do early material decisions and good records.

What the report found

For Construction Pros reported on a global survey that ties uncertainty to a 12.4% rise in construction project costs. The survey names material inflation and supply problems as drivers. It also found growing delays, budget pressure and project cancellations.

The feed summary we saw was short. We don't know how the survey was done, which regions it covered or which project types it included. So treat the 12.4% figure as a broad, global signal. It isn't a price tag for your roof, siding job or addition.

Why it matters for homeowners in the Northeast

For homeowners, uncertainty usually shows up in a few familiar ways:

• Quotes that expire faster. A contractor may only hold a price for a short window, because their supplier costs can change.