CBRE: Constructions costs to increase 14.1% this year


CBRE: Constructions costs to increase 14.1% this year


There is some light at the end of the tunnel when it comes to rising construction costs.

Rising prices for labor and materials continue to pressure construction costs.

Construction costs are forecast to rise 14.1% this year due to rising prices for labor and materials, according to CBRE’s U.S. Construction Cost Trends report. Annual increases, however, should return to the historical average of between 2% and 4% in 2023 and 2024.

Supply chain-related disruptions should begin to ease, but ongoing labor and component shortages will impair production and logistics capacity, CBRE said...
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RSK: The article states that it will slow down to the normal 3% to 4% in 2023-24. I`m not so sure that it will hit that low.

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- - Volume: 10 - WEEK: 31 Date: 7/26/2022 10:18:23 AM -