Cohousing-L Mailing List: Re: Building Cost Index

[Lorraine Faris (lor.f50]

According to the link https://www.turnerconstruction.com/cost-index
"Third Quarter 2022 Turner Building Cost Index—which measures costs in
the *non-residential
building construction* market in the United States—had increased to the
value of 1311. This represents a 2.18% quarterly increase from the Second
Quarter 2022 and an 8.62% yearly increase from the Third Quarter 2021"...

Just wondering if there is something similar to help with residential
building construction.....

Lorraine
Cohousing of Greater Baltimore

On Sat, Nov 19, 2022 at 3:46 PM Sharon Villines via Cohousing-L <
cohousing-l [at] cohousing.org> wrote:

> In addition to the article Ann just mentioned is the Turner Turner
> Building Cost Index. It was started and is kept by a huge international
> construction company that needs it for its own projects and shares it with
> the world. It predicts the next quarter and also includes decades
> historical figures. Maybe useful for discussing prices.
>
> > 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.
>
> https://www.turnerconstruction.com/cost-index
>
> One reason I think it would be more trustworthy than an index by a
> (self-serving trade association or not quite with it government agency) is
> that it is used by the company itself in their own bidding process. If it
> were wrong, they would be shooting themselves in the foot.
>
> For reserve studies, the construction cost index is more relevant for some
> parts than the inflation rate. Construction is a unique category of goods
> and labor that is affected by technology, skilled worker availability, and
> resources depletion.
>
> Sharon
> ——
> Sharon Villines
> Strong Neighborhoods
> https://www.strongneighborhoods.info/
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