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In 2018, the country saw more than a 5 percent increase in building and that's continuing into this year, JLL's report says.
"All forward indicators for construction are still flashing green," said Todd Burns, president of project and development services for JLL's Americas division. "However, a year with growth equal to that of 2018 would be considered a success, given concerns of a broader economic slowdown."
Nationwide construction costs increased by 3.4 percent last year, ahead of the overall 1.9 percent inflation rate.
"Building costs will continue to increase in 2019 but at a slower rate than 2018," the report said. "This reflects an expected cool down in material pricing but the surging cost of labor."
U.S. construction spending in 2018 totaled $1.3 trillion. And more than 1.63 million people worked in the sector.
Michelle Foreman isn't one to focus solely on getting the job done but instead on getting the job done RIGHT. Michelle, a Fourth Generation Realtor, is certified as both a Senior Real Estate Speciali....