construction costs

Construction Costs Climbing, Relief Forecasted in 2023

2022 has been a year unlike any other within the construction industry, but at long last, relief is forecasted as the cost of construction materials in the U.S. stabilizes. Concrete and labor shortages, supply chain disruptions, inflation and the war in Ukraine have all contributed to record-high construction costs and delays that affected the development…

construction labor shortage two workers shaking hands

The current state of the construction labor market and shortage in the trades

Across the country, labor shortages exist practically within every industry. And for the construction industry, it’s nothing new. In the early 2000s, the industry’s hiring problems were temporarily cured during the foreclosure crisis and the Great Recession when the housing market collapsed. Since then, the construction industry hasn’t quite recovered from the droves of workers…