By Roland Murphy | Arizona Builder’s Exchange
Rider Levett Bucknall has come out with its Q2 North American Quarterly Construction Cost Report, and the Phoenix area continues to do well.
In his introductory overview to the report, RLB President Julian Anderson noted cost escalation is trending well above the Consumer Price Index. He also said, “With labor shortages continuing, we have reason to believe it is limited in nature and easing somewhat. Once the effect of inflation on the value of construction put-in-place is calculated, it would appear that the increase in construction labor is still behind the up-turn in construction activity, but not as much as the raw numbers would suggest,” adding that the shortage appears to specific to certain areas and trades.
