Multifamily Construction Costs May Drop
By Bendix Anderson for National Real Estate Investor Heading into 2020, a robust development pipeline and rising costs of construction material and labor were major concerns for the multifamily sector. The economic devastation wrought by the COVID-19 shutdowns has put a halt to that, scrambling the projections of economists, developers and contractors. Developers aren’t exactly finding bargains at the moment, since […]
Infrastructure Spending Drives Strong Q4
Source: Marcum LLP The Marcum Commercial Construction Index for the fourth quarter of 2019 reports healthy levels of construction spending, in large part due to the ongoing strength in infrastructure-related categories. Nonresidential construction spending stood at an annualized rate of $779.6B in December 2019, down 1.2 percent from the previous month but up 4.4 percent year-over-year. The […]
Construction to Remain Active, but Tempered, in 2019
Forecast Event Shows Impending Doom Seems Highly Unlikely By Roland Murphy for Arizona Builder’s Exchange 2018 was an excellent year, if not quite as excellent as experts predicted at the outset. 2019 will also be excellent, if, perhaps, somewhat less so than the year that preceded it. After that, things will taper off, but it […]
Why Incentivize When There’s Nothing to Buy?
By Roland Murphy for Arizona Builder’s Exchange While I tend to lean slightly toward optimism, no one has ever accused me of a rose-colored worldview. Some of the reports that have crossed my desk recently have reinforced my, “That’s good news, but…” default outlook. Nearly everyone, including Millennials, is tired of stories focused on Millennials. […]
Phoenix Area Q2 Construction Costs
By Roland Murphy for 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, […]
Construction Costs Up 5.1%
By Roland Murphy for Arizona Builder’s Exchange International property and construction consulting firm Rider Levett Bucknall has released its North American Quarterly Construction Cost Report for Q1. The comprehensive review of market data from multiple leading sources shows an average national increase in construction costs of roughly 5.1 percent from Jan. 1-Dec. 31, 2016. Phoenix […]