Construction Costs Holding Steady During Pandemic
"One predicted benefit of the pandemic has been a decline in construction costs — or at least a halt to big price increases of recent years," according to an article by Steve Brown.
Not so fast, according to recently released data as well as insight from Texas-based developers and builders surveyed by Brown surveyed for the article. "Phil Crone, executive officer of the Dallas Builders Association, said local homebuilders are seeing volatility in a number of supply chains that has actually increased prices," for instance.
Still, "Nationwide engineering and construction costs dropped in June, according to a report by IHS Markit." And construction activity has been picking up. In Dallas-Forth Worth, "construction activity had rebounded by 15% in May from where it was in March when the pandemic caused a lockdown," according to Brown.