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| Turner building cost index forecasts 4.96% increase over 1Q 2007 NY-based Turner Construction announced that construction costs increased 1.48 percent over the Fourth Quarter 2007 and 4.96 percent over the First Quarter 2007. Turner has issued this quarterly forecast for more than 80 years. According to Karl F. Almstead, the Turner vice president responsible for the Turner Building Cost Index, "The non-residential construction market remains active in spite of the residential market slowdown and the uncertainty in the credit markets. The perception that there may be an economic slowdown has lead to an easing of pricing pressure and an increase in competition among trade contractors in some markets. However, in major metropolitan markets such as New York City, the available volume of work continues to drive pricing upward." write your comments about the article :: © 2008 Construction News :: home page |