Report: Construction costs inch upward in Portland

Construction costs in Portland grew 4.6 percent in the first fiscal quarter of 2023 — below the national increase of 5 percent — Mortenson reported in its first construction cost index of the year. According to the report, the rise in construction costs was beginning to slow compared to hikes over the last two years; however, finding labor was still a challenge for many contractors kicking off new projects.

Nonresidential construction costs across the nation increased in Quarter 1 by 0.6 percent, which is a 5 percent increase over the previous 12 months, Mortenson officials said.

Source: Report: Construction costs inch upward in Portland • Daily Journal of Commerce