New Quarterly Cost Report from Rider Levett Bucknall Charts Construction Trends throughout North America

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Rider Levett Bucknall has released its latest Quarterly Cost Report, providing an eye-opening perspective on the North American construction industry in 14 key markets. The latest report, with data to mid-Q2 2024, shows the national average increase in construction costs was 1.12% over the previous quarter. Boston, Massachusetts; Chicago, Illinois; Denver, Colorado; Honolulu, Hawaii; Los Angeles, California; Portland, Oregon; San Francisco, California and Washington, D.C. experienced increases over the national average this quarter. Denver; Las Vegas, Nevada; New York, New York; Phoenix, Arizona and Seattle, Washington experienced gains that were less than the national average. “The construction industry continues to … Read more

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Looking Ahead: 2024 Industry Challenges, Opportunities

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3 key areas to keep top-of-mind when planning for the unpredictable By Turner Burton While overall market conditions may seem unpredictable, the 2024 construction landscape is full of innovation and adaptability, and there is still optimism for our industry. According to Dodge Construction Network, the overall value of construction starts is expected to rise 7% in 2024. Ongoing challenges are expected, but the expansion of technologies and out-of-the-box creativity within the industry has maintained a sense of normalcy and resilience despite headwinds. Some factors going into 2024 remain the same as they have been over the past couple of years. … Read more

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Real Talk with Real Superintendents

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Biggest 2022 challenges, gamechangers + 2023 drivers By Chris Maday Schmidt For the inaugural issue of the year, Construction Superintendent asked general contractors to weigh in on the hottest topics in the trades that have been trending over the past year, as well as driving the industry forward in 2023. We heard from Dale Ziegler, senior superintendent, Trident Construction Group; Superintendent Jordan Doggette, Robins & Morton; Chris Newton, general superintendent, JE Dunn Construction; Mike Foster, superintendent JE Dunn Construction and Mark Miracle, general superintendent, Messer Construction. The following is a recap of what respondents had to say: As a superintendent, … Read more

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Rider Levett Bucknall Releases Quarterly Cost Report for North America, Puts Construction Trends in Perspective

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International property and construction consultancy firm Rider Levett Bucknall has released its new quarterly cost report for North America. With data up to date to July 1 and featuring construction cost information for 14 U.S. and Canadian markets, the QCR provides a statistical view of the state of the construction industry, detailing indicative construction costs for eight building sectors. Upon publication of the QCR, Julian Anderson, FRICS, president of RLB North America, said, “While we expect that construction will face a downturn in the next year, this doesn’t necessarily mean that the construction industry is in trouble; it does mean … Read more

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Deepening Labor Struggle Driving Future of Construction

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The construction labor shortage continues to deepen nationally, evident by a historically low unemployment rate of 4.5 percent. There has been minimal growth in the workforce over the last nine months, with no sign of an increase. Because of this, industry professionals can expect project timelines to be extended, wages to increase at a faster rate and all eyes focused on construction technology to offset these challenges. Despite this, the industry continued to hit a mature stage of economic expansion in the third quarter, according to a new report from JLL that tracks national construction trends. Construction spending was up … Read more

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