Construction costs decline in Phoenix

Construction costs in Phoenix continue to decline, even as slight inflationary pressures have increased construction costs in markets including Denver, Los Angeles, New York, San Francisco and Washington. That’s the assessment of Rider Levett Bucknall, an international consulting firm with offices in Phoenix. The nominal declines in Phoenix are mirrored in Boston, Las Vegas, Portland and Seattle. RLB released its third-quarter data along with a press release that analyzes the data. “The Arizona market is still very competitive in relation to the general contractor and subcontractor bidding environment. This competition is keeping prices down,” the press release stated.

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