New Quarterly Cost Report Available from Rider Levett Bucknall

Rider Levett Bucknall has released its latest Quarterly Cost Report, providing a perspective on the North American construction industry in 14 key markets. With data current to mid-Q2 2023, the latest RLB quarterly cost report shows that the national average increase in construction costs was 1.56% over the previous quarter, with Chicago, Denver, Las Vegas and San Francisco experiencing increases over the national average this quarter. Boston, Honolulu, Los Angeles, Portland, Seattle and Washington, D.C. experienced gains were less than the national average.

Quarterly Cost Report notes:

• The U.S. quarterly national average increase in construction cost is approximately 1.56%, compared to 7.22% year-over-year
• The construction unemployment rate is up slightly to 5.6% from 6% in the same time period last year
• The Architectural Billings Index is 48.5, the sixth time in the last seven months below 50.

Read the complete 2023 QCR Q2 report here.