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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