Construction costs are rising in the United States, according to the First Quarter 2015 USA Construction Cost Report from international property and construction consultants Rider Levett Bucknall (RLB).
Architect magazine, a sister publication to Concrete Construction recently reviewed the findings.
The report's research shows a 5.5 percent increase in the national average in construction cost from that January 2014 and December 2014. The city with the highest annual increase is Honolulu, with 13 percent; meanwhile, cities such as Washington, D.C., New York, Denver, and San Francisco witnessed milder increases, ranging from 4 percent to 6 percent.
Some of the reasons behind the increase: a smaller industry, following the recession, and falling gas prices, with construction cost inflation at an annualized rate of 4.64 percent.