Cost Index

Turner’s First Quarter Building Cost Index: Building Costs Increases Slow in the First Quarter of 2023, and Availability of Skilled Labor Continues to be an Issue in the Construction Industry       

First Quarter 2023 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—has increased to the value of 1349. This represents a 1.28% quarterly increase from the Fourth Quarter 2022 and an 7.49% yearly increase from the First Quarter 2022.



Quarter Index % Change
1st Quarter 2023 1349  1.28
4th Quarter 2022 1332  1.60
3rd Quarter 2022 1311  2.18
2nd Quarter 2022 1283  2.23


Base year: 1967, index 100

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2023


First Quarter 2023


2022


First Quarter 2022

Second Quarter 2022

Third Quarter 2022

Fourth Quarter 2022

2021


First
Quarter
2021

Second Quarter 2021


Third Quarter 2021

Fourth
Quarter
2021

2020

Second
Quarter
2020

Third
Quarter
2020

Fourth
Quarter
2020


2019

First Quarter
2019


Second
Quarter
2019

Third Quarter 2019

Fourth Quarter 2019

2018

First Quarter
2018


Second Quarter 2018


Third Quarter 2018


Fourth
Quarter
2018

2017

First Quarter
2017


Second Quarter
2017

Third Quarter 2017

Fourth
Quarter
2017


2016

First Quarter
2016

Second Quarter
2016

Third
Quarter
2016

Fourth Quarter
2016

2015


First Quarter 2015


Second
Quarter
2015

Third Quarter
2015

Fourth
Quarter
2015
 

2014


First Quarter 2014


Second
Quarter
2014

Third Quarter 2014


Fourth Quarter 2014

2013


First Quarter 2013

Second Quarter 2013

Third Quarter 2013

Fourth
Quarter
2013

2012

First Quarter 2012
 
Second Quarter 2012
 
Third Quarter 2012

Fourth Quarter 2012



Fourth Quarter Cost Indices from Previous Years


Fourth Quarter 2009

Fourth Quarter 2010


Fourth Quarter 2011

Fourth Quarter 2006

Fourth Quarter 2007

Fourth Quarter 2008


Turner has prepared the construction cost forecast for more than 80 years. Used widely by the construction industry and Federal and State governments, 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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