Sep 07, 2022 08:30 AM
Construction costs are expected to end the year 14.1% higher due to labor shortages, inflation, supply chain disruptions and other ongoing pressures, according to CBRE’s U.S. Construction Cost Trends report, MBA NewsLink reported Aug. 30. The projections outpace the historical average increase of 2-4% per year, and is the largest since CBRE began projecting costs in 2007.