News — construction costs

Phoenix construction cost increases outpaced nation in 2019 Photo by: Chaiyaporn Baokaew/Getty Images PHOENIX — The cost of construction in Phoenix rose faster than the national average during 2019, according to the Mortenson Construction Cost Index. While both the Phoenix and national averages tracked upward, the national average cost rose by 3.3 percent compared with Phoenix’s 4.5 percent increase. During 2018, Phoenix’s costs also trended slightly higher than the national average, and in 2017 Phoenix’s trend was equal to the national average. Reinforcing steel material was the building component that saw the largest increase from 2018 to 2019 in Phoenix,...