Construction Costs Increase as Markets Remain Active

According to Turner Construction Company’s quarterly Building Cost Index, construction activity during the Fourth Quarter 2018 has remained at a high level across the United States.

Turner Construction Company announced that the Fourth Quarter 2018 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to a value of 1120. This represents a 1.36 percent quarterly increase and 5.86 percent yearly increase from the Third Quarter 2018 and Fourth Quarter 2017, respectively.

“For the Fourth Quarter, the escalation on raw and fabricated materials continue,” said Attilio Rivetti, the Turner vice president responsible for compiling the cost index. “While aluminum and steel product pricing has not increased significantly since August, gypsum products continue to rise on a monthly basis. Above-average level of work in numerous cities across the United States is increasing the need to understand and manage the availability of skilled labor in those markets.”