Impact of COVID-19 Continues to Influence Construction Costs
Turner Construction Company announced that the Fourth Quarter 2020 Turner Building Cost Index—which measures costs in the non-residential building construction market in the United States—had maintained the value of 1177. This remains unchanged from the Third Quarter 2020 and represents a decrease of 0.51 percent from the Fourth Quarter 2019.
“Raw material costs in the Fourth Quarter of 2020 continued to fluctuate due to the pandemic. Fuel, copper, steel and aluminum have experienced modest increases, while concrete slightly decreased. Many of these increases were offset by increased competition by trade contractors,” said Attilio Rivetti, the Turner vice president responsible for compiling the Cost Index.