R
ider Levett Bucknall (RLB), an international property and construction consultancy firm, has released its latest Quarterly Cost Report, offering insights into the North American construction industry across 14 key markets. The report, based on data from mid-Q4 2024, reveals a national average increase in construction costs of 1.11 percent, with some cities experiencing higher growth rates.

    According to Paul Brussow, President of RLB North America, "The construction industry's adaptability and innovation are crucial in navigating market uncertainties." Despite ongoing challenges like inflation, tariffs, and labor shortages, the firm remains focused on developing solutions that drive growth and success. Key findings from the report include:

    * A 1.11 percent national average increase in construction costs, with a year-over-year rise of 4.69 percent

    * A construction unemployment rate of 3.7 percent, down 0.1 percent from last year

    * The Architectural Billings Index (ABI) has reached 50.3, indicating a balance between firms experiencing increased and decreased billings after a twenty-month decline