Phoenix Crane Count Stays Consistent as Construction Costs Rise

The number of cranes spotted in downtown Phoenix has remained unchanged at 7 throughout the first quarter of 2024, according to the latest RLB Crane Index. This stability is a reflection of the ongoing construction activity, mainly focused on residential and mixed-use projects in the area. However, construction costs have seen an upward trajectory over the past year, albeit still below the national average of 5.85%. From January 2023 to January 2024, Phoenix observed a 4.61% uptick in construction expenses. Nonetheless, Paul Brussow, the new president of RLB North America, said he is cautiously optimistic about the construction industry this year after a few years of economic uncertainty.

Source: https://www.bizjournals.com/phoenix/news/2024/04/04/crane-count-index-phoenix-downtown.html