Turner Building Cost Index: Robust Construction Activity Continues

October 08, 2018

According to Turner Construction Company’s quarterly Building Cost Index, the robust construction activity seen in the first half of the year has translated consistently across the United States during the Third Quarter of 2018

Turner Construction Company announced that the Third 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 1105. This represents a 1.47% quarterly increase and 5.84% yearly increase from the Second Quarter 2018 and Third Quarter 2017, respectively.

“Pricing for key building materials remains volatile and skilled labor shortages continue to drive construction costs, heightened by several mega projects observed throughout the country,” said Attilio Rivetti, the Turner vice president responsible for compiling the Cost Index.

Turner has prepared the construction cost forecast for more than 80 years. The building costs and price trends tracked by the Turner Building Cost Index may or may not reflect regional conditions in any given quarter. The Cost Index is determined by several factors considered on a nationwide basis, including labor rates and productivity, material prices and the competitive condition of the marketplace. This index does not necessarily conform to other published indices because others do not generally take all of these factors into account.

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