Trade Tensions Raise Construction Costs in the Multifamily Sector
“Approximately 60 percent of the cost increases we’ve seen recently are directly related to tariffs,” says Aaron Trascritti, Director of Client Relations for Summit Contracting Group.
Summit has not experienced a significant impact from the labor shortage as the Southeast has stayed relatively consistent and our core group of Subcontractors have been successful at maintaining their labor force, however, we do see the effect it has had on other markets. Areas such as Nashville and Denver we’ve observed a larger impact where the availability of labor has declined.