Turner Corp. Forecasts Flat Construction Costs For First Quarter
According to Karl F. Almstead, Turner vice president responsible for the Building Cost Index, the reduced available non-residential construction markets, combined with the uncertainty about war, have continued to weaken pricing pressure. Although individual materials have shown price fluctuation, in general the pricing of materials and manufactured goods has remained flat.
"Labor costs have had some upward pressure but do not seem to be having significant influence," says Almstead. "The increases in insurance and surety costs are, however, adding to the pricing pressure." He went on to report that in total, though, the market appears to be absorbing the increased cost factors because the overall business environment is becoming more competitive.