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Though prices of construction materials such as steel, lumber and concrete have been trending upward, that changed recently.

But those price drops could be only temporary, industry experts say.

An analysis of prices carried out by the Associated Builders and Contractors shows that prices for inputs to construction actually fell 0.2 percent in July. But the overall cost of materials still is 9.5 percent higher than at the same point in 2017.

Nonresidential construction input prices closely follow the overall figures in falling 0.3 percent in July but rising 9.6 percent year over year.

Meanwhile, the ABC report reveals softwood lumber prices have risen 19.5 percent from July 2017, while iron and steel prices have risen 13.4 percent during the same time period.

ABC’s chief economist, Anirban Basu, said it would be premature to expect prices to continue to fall in light of international trade tensions and the unknown effect of American tariffs on imported steel and aluminum.

鈥淎s is often the case, the question for the economist is how much weight to place on the most recent data point,鈥� Basu stated in an posted on the Building Design + Construction website. 鈥淕iven the ongoing strength of the U.S. construction sector and ongoing trade tussles, it would be difficult to conclude that the rise in materials prices is over.鈥�

Basu did posit that the pace of price increases could slow as suppliers ramp up production of key inputs because of higher prices and the U.S. dollar remaining strong.