Construction cost increases stabilize at 2-4% annual escalation, returning to pre-pandemic levels, as revealed by Skanska executive Steve Stouthamer.
Construction cost increases have stabilized, returning to the pre-pandemic norm of 2-4% annual escalation, according to Skanska executive Steve Stouthamer. After peaking in May 2022, construction material costs have experienced steady declines since February. The biggest change for contractors is greater predictability in material pricing, which is now holding steady and more consistent.
June 24, 2024
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