Construction Growth, Price Increases Boost Costs

Words: Dan KamysConstruction Growth, Price Increases Boost Costs

Turner Construction Co. announced that the First Quarter 2013 Turner Building Cost Index – which measures costs in the non-residential building construction market in the United States – has increased to a value of 849. This reflects a 1.19 percent increase from the Fourth Quarter 2012 and a 3.41 percent increase from the First Quarter 2012. 

"The increase in private non-residential construction spending over the past year, material and equipment prices continuing to inch upwards, and a slight increase in labor rates has led to a boost in construction costs," says Karl F. Almstead, the Turner VP responsible for the Turner Building Cost Index. 

About 90 percent of Turner's business is performed under contract arrangements where Turner provides extensive preconstruction planning services before the contract price is fixed and before construction starts. By providing preconstruction services and using enhanced procurement strategies, Turner effectively manages the market risks associated with cost-related issues.

Turner has prepared the construction cost forecast for more than 80 years. Used widely by the construction industry and Federal and State governments, the building costs and price trends tracked by the Turner Building Cost Index may or may not reflect regional conditions in any given quarter.

The Cost Index is determined by several factors considered on a nationwide basis, including labor rates and productivity, material prices and the competitive condition of the marketplace. This index does not necessarily conform to other published indices because others do not generally take all of these factors into account.

Four Different Types of Natural Stone Used For Masonry

Natural stone has been a staple in masonry for centuries. Before it was used to transform home and landscape designs on residential properties, it was used for historical buildings and some of the most iconic destinations in the world.

Advice to the Beginners

The best advice I could give anyone that is starting a career in masonry is that first and foremost, you must "know" yourself. What do you like to do? What would you like in a working environment? Do you like to be outside? Do you enjoy physical activity

About: Featured
Masonry Safety Inspections

The look of confusion and utter loss on people’s faces when I tell them that I’m a safety inspector for a masonry company is often hilarious.

About: Safety
Dave Jollay Announced as Third Inductee for MCAA 2024 Hall of Fame

Following in the footsteps of his father, O.L. Jollay, the founder of Jollay Masonry, Inc., Dave Jollay has carved out a remarkable career in the masonry industry.