In the San Diego area, developers who oversee construction projects are experiencing sticker shock as bids are coming in higher than they estimated. Compared with the 2 percent to 4 percent increases in construction costs that were typical in recent years, the past two years have seen significant increases in nearly everything—steel, drywall, wood, and cement. In San Diego County, plywood prices jumped 67 percent and steel rebar prices 33 percent from 2003 to 2004.
Source: San Diego Union-Tribune
Learn more about markets featured in this article: San Diego, CA.
