Construction Cost Trends 2018

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Construction costs have changed dramatically over the course of the past year.

In the recent webinar “Construction Cost Trends 2018” by RSMeans data from Gordian, the first and foremost experts in their field provide specific insights into how these costs have and will continue to fluctuate.

These presenters walk attendees through developing trends in this important data and the significant impact construction cost will have on a variety of industries.

The information presented in this webinar will help prepare construction professionals for 2018 and set up future projects for success.

RSMeans data cost engineers spent more than 22,000 hours annually researching material, labor, equipment and productivity rates across the nation.

Below are a few of the notable developments Gordian observed looking toward 2018.

  • 71 percent of line items experienced a price change.
  • 29 percent of line items’ prices fluctuated by more than 5 percent.

Materials prices have been generally rising. In some locations, lumber rose as high as 26 percent, steel 29 percent and concrete 31 percent.

The following cities experienced the highest cost change year-over-year:

  • Richmond, Va.
  • Fargo, N.D.
  • Elizabeth City, N.C.
  • Twin Falls, Idaho
  • Shreveport, La.
  • Sioux Falls, N.D.
  • Lynchburg, Va.
  • Wenatchee, Wash.
  • Augusta, Maine
  • Kittery, Maine

To learn more and prepare for the year ahead, view the full webinar here.

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