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Construction Costs Continue to Balloon

Construction Costs Continue to Balloon

Construction costs in the Puget Sound region are 5% higher than a year ago, and are forecast to rise by as much as 6% in the next 12 months, according to the latest Mortenson Construction Cost Index for Seattle. That's higher than the national average. Growth in construction employment will remain in double digits as well. Mortenson's index is based on concrete-and-steel high-rise buildings, but doesn't measure wood frame construction, such as shorter apartment buildings and single-family houses. [Mortenson]