New Report: Watch Out for Construction Cost Uptick
A potential significant rise in construction costs may be looming, according to Rider Levett Bucknall’s Third Quarter 2014 USA Construction Report. A lack of skilled labor is creating a strain on the industry, states a post on GlobeSt.com. RLB, which tracks construction costs in 12 major U.S. cities, found that between April 1 and July 1, the national average increase in construction cost was 1.38 percent. That’s the largest hike in the past six years. “Boston, New York City, San Francisco and Washington, D.C. all experienced increases between 1.5 percent and 1.67 percent for the period, while Honolulu topped the list with an increase of 3.04 percent,” writes Paul Bubny, managing editor of GlobeSt.com.
