Construction Costs Cool, Supply Chain Woes Ebb

After the tumult that has roiled the building business the past three years, Jason Jones, the Cleveland regional vice president of Turner Construction Co., sees a calming in the market.

"It's nowhere near as crazy as it has been. We're adapting to a new normal," he said.

Prices "have not gone down, but the market has adjusted," Jones added. "Concern has shifted from lead times for materials to the amount of labor on the site, especially among specialty contractors such as steel erectors, concrete contractors, plumbers and electricians. Specialty contractors generally are so busy getting multiple bids it has been challenging. That's what drives the pricing everyone is looking for."

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