RSMeans’ Construction Cost Index Advances in July; Coincides with Improving Housing Markets

9/2/2009 – RSMeans’ construction cost index has started to advance again. In the latest quarter, as reported for July 2009, the composite figure moved ahead 2.9% quarter-to-quarter annualized, although it remained unchanged compared with its level of a year ago. In the preceding quarter, it was -7.9% annualized and in the one before that, it was -2.4%.
The most recent quarter-to-quarter annualized change in the materials cost sub-index was -2.2%. The year-over-year change in the materials sub-index was -4.7%. July of last year was when world oil prices were at their peak (i.e., $145 USD per barrel). Many other commodities used significantly in construction building products were…… (read more)