Masonry Material Price Forecasting for 2024: How Suffolk County Contractors Can Budget for Inflation and Supply Chain Volatility

Masonry Material Price Forecasting for 2024: How Suffolk County Contractors Can Budget for Inflation and Supply Chain Volatility

As we navigate through 2024, Suffolk County contractors face unprecedented challenges in masonry material pricing and procurement. After the price volatility of recent years, building materials in 2024 are expected to see a welcome trend of stabilization, though this doesn’t guarantee a return to pre-pandemic affordability levels. Understanding these market dynamics is crucial for contractors who need to maintain competitive pricing while managing project profitability.

Current Market Conditions and Price Trends

After finishing 2024 with a modest 2.1% uptick from Q3 to Q4, concrete costs dip 1.65% to start 2025. This minor skid is a blip on concrete’s long-term cost trajectory, as prices are up 6.7% year-over-year. The masonry sector has shown mixed signals throughout 2024, with the national average price of concrete block is $2.40/unit cost, up a negligible 0.42% over the last three months.

For Suffolk County contractors, these trends represent both opportunity and challenge. Common Face Bricks – Clay brick prices have seen double digit percent increases in the last three months after more than six months of negligible cost changes, indicating that even stabilizing markets can experience sudden price movements.

Inflation Impact on Masonry Materials

Additionally, inflation’s grip hasn’t loosened on building materials just yet. While the overall inflation rate is showing signs of cooling, its impact is still driving up construction material costs. As inflation continues to influence global markets, construction costs are expected to rise in 2025 driven by a combination of factors, including material price volatility, labor shortages, and supply chain disruptions. JLL’s 2025 Construction Outlook expects cost growth to be between 5% and 7%.

The construction industry continues to grapple with by July 2023, the inflation of construction material costs have been waning, with lower price growth rates than in the previous year, though contractors must remain vigilant as construction inflation peaked in 2022 at 17.3% and then dropped back to around 6.5% for 2023 and 3.4% so far in 2024.

Supply Chain Challenges and Solutions

Since many building materials are closely tied to fossil fuel costs, in terms of production – think steel, aluminium, roof tiles, masonry bricks, namely, big melters and heaters – a strain at the source spans throughout the entire supply chain. This interconnectedness means that global events continue to influence local pricing in Suffolk County.

Material prices are expected to remain elevated in 2025 due to ongoing supply chain issues and increased demand. While some materials, such as lumber, have seen price declines in recent months, others, like steel and electrical components, remain expensive and subject to volatility.

Strategic Budgeting for Suffolk County Contractors

For contractors working with reliable suppliers like Mason Supply Suffolk County, developing strong supplier relationships becomes even more critical in volatile markets. Powerhouse Mason Supply is a proud, family-owned business that has been serving Long Island and the Boroughs for 25+ years. Our mission is to provide personable customer service, top quality construction materials and expert advise at competitive prices.

Effective budgeting strategies should include:

  • Long-term Contracts: I always say carry the long term average for future. That would be 3.5% for inflation adjustments in multi-year projects
  • Flexible Sourcing: Working with established suppliers who maintain diverse inventory helps mitigate supply disruptions
  • Price Escalation Clauses: Including material cost adjustment provisions in contracts protects against sudden price spikes
  • Bulk Purchasing: Strategic inventory management can help lock in favorable pricing during stable periods

Market Outlook for 2025

The concrete blocks market is anticipated to grow at a CAGR of 6.12% during the forecast period (2025-2030), indicating sustained demand that should support stable pricing. The global concrete block and brick market size will be USD 361425.5 million in 2024. Growing construction activities in both public and private sectors are expected to boost sales to USD 572819.19 million by 2031, with a Compound Annual Growth Rate (CAGR) of 6.80% from 2024 to 2031.

However, contractors should prepare for continued challenges. The cost of building materials will see moderate increases over 2025 due to supply chain challenges and rising inflation. Regional factors specific to Long Island and Suffolk County, including local demand patterns and transportation costs, will continue to influence pricing.

Recommendations for Suffolk County Contractors

Success in this environment requires proactive planning and strong partnerships. Our family comes from generations of masons so we are extremely knowledgeable on design and application of products. You can count on our staff to help guide you through your project and answer all of your questions, demonstrating the value of working with experienced local suppliers who understand both the technical and market challenges.

Contractors should focus on building relationships with suppliers who offer not just competitive pricing, but also market intelligence and flexible terms. We have two locations which are located in Roslyn Heights (Nassau County) and Amityville (Suffolk County), providing convenient access for Suffolk County projects.

The masonry market in 2024 presents both challenges and opportunities. While price volatility remains a concern, the trend toward stabilization offers hope for more predictable budgeting. Contractors who combine strategic planning, strong supplier relationships, and flexible contract terms will be best positioned to navigate this complex landscape successfully.