Rider Levett Bucknall has released its latest Crane Index and Quarterly Cost Report. Together, the two documents provide a perspective on the North American construction industry in 14 key markets.
With data current to mid-Q3 2023, the latest RLB quarterly cost report shows that the national average increase in construction costs was 1.55% over the previous quarter, with Chicago, Honolulu, Las Vegas, New York, Portland and Seattle all experiencing increases over the national average this quarter. Boston, Denver, Los Angeles, Phoenix, San Francisco and Washington, D.C. experienced gains that were less than the national average.
Crane Index notes
- Boston and Toronto are the only cities in the report seeing increased crane counts.
- Cities holding steady in their crane counts include Calgary, Honolulu, New York, Phoenix, Portland and Seattle.
- Cities with a decrease greater than 20% in cranes include Chicago, Denver, Las Vegas, Los Angeles, San Francisco and Washington, D.C.
Quarterly Cost Report notes
The U.S. quarterly national average increase in construction cost is approximately 1.55%, compared to 6.49% year-over-year.
- The construction unemployment rate is down slightly to 3.6% from 3.7% in the same period last year
- The Architectural Billings Index in July was 50, remaining flat from the previous month
Read the complete QCR report at: RLB Construction Cost Report North America Q3 2023 – RLB | Americas.
The Crane Index is at: RLB Crane Index North America Q3 2023 – RLB | Americas
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