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While the overall trajectory of the index continued to climb, the rate of increase has slowed over the last four quarters, as the industry and workers have started recovering from the impacts of the COVID-19 pandemic.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n For example, in the third quarter of 2022, Turner\u2019s Cost Index rose at 2.2%, but it has risen less than that in each of the subsequent quarters. And although the rolling 12-month gain was still higher than pre-pandemic levels, it was also lower than the 8% increase the index notched for the full 2022 calendar year.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n Part of that positive development for pricing has come as supply chains have gotten closer to normal status post-COVID, while contractors and subs have also pivoted to collaborating earlier on projects to overcome any known shortages. Offering job perks for workers has helped, too.\u00a0<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n \u201cPromoting job opportunities in growing markets and offering attractive work environments for the workforce alleviates some of the pressure in a tight labor market,\u201d Rivetti said. \u201cEarly coordination and participation of trade contractors and suppliers serve to mitigate the impact of long lead times for equipment on construction schedules.\u201d\u00a0 <\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<\/p><\/div>\n