Home›Real Estate›Commercial›Denver construction costs rise 4.6% year over year

Denver construction costs rise 4.6% year over year

Denver construction costs climbed 1.3% in the third quarter, matching the quarterly national pace while running slightly above the 4.5% national annual rate.

Reported · Written up by our desk · Commercial

Denver construction is getting more expensive as labor, fuel, material, and operating costs rise, according to a construction cost report cited by Bisnow.

Local construction costs increased nearly 4.6% year over year and about 1.3% in the third quarter, while the national figures were roughly 4.5% year over year and 1.3% over the quarter, based on RLB’s Q3 report.

Bisnow also points to differences within Denver’s market, noting nonresidential construction costs rose nearly 1.4% in the second quarter and 6.8% over the past 12 months, according to Mortenson’s Q3 construction cost index.

The coverage adds that increases were concentrated in select concrete and steel scopes, with site concrete and reinforcing steel seeing higher costs.

More like this

Sources