Construction Costs & Trends in Charlotte, NC Metropolitan Area
The Charlotte, NC construction market is still highly competitive and performing robustly. However, there are early signs pointing toward a potential moderate slowdown.
As the first in a 2019 series of market studies analyzing the local and national economic factors affecting construction costs, OCMI’s cost management and economic team take a deep dive into the Charlotte, NC Metropolitan Area. What we discovered is a highly competitive market – challenges in hiring common and skilled labor, combined with rising wages and substantial increases of materials, are leading to an above-average, year-over-year escalation of construction costs. While the market will continue to perform robustly in 2019, there are preliminary signs pointing toward a potential moderate slowdown beginning in 2020.
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