Colliers International | South Carolina is pleased to present this statewide construction trends market report, which we have published in conjunction with our project management partner firm in South Carolina, LCK. LCK is a woman-owned business whose core service is project management for real estate development projects. For more information on LCK, please visit their website at lckcs.com.

South Carolina Construction Activity is Up

Key Takeaways

  • Statewide construction activity has risen from one year ago and the market has an optimistic business climate; therefore, positive construction activity is expected into 2019.
  • Construction costs across all sectors are expected to continue rising in South Carolina. Volatile material pricing and increased demand on limited contractor resources are key factors.
  • LCK Construction Tip: Pre-engineered metal building pricing and lead times continue to rise. Structural steel framing or load-bearing masonry construction will offer comparable alternatives.

Overview

Construction Starts: Statewide construction starts are 0.63% higher than starts in the third quarter of 2017. Across the state, 25,305 project starts occurred during 2018, valued at $12.54 billion. In the third quarter, 8,306 construction project starts were recorded.

Construction Workforce: According to the Bureau of Labor Statistics, as of September 2018, there were 98,400 construction employees in South Carolina, representing 4.66% of the total non-farm employment. Construction employment decreased by 100 jobs over the last 12 months; however, employment in the major markets is largely increasing.

U.S. Material Pricing: Pricing volatility continues for steel, asphalt and gypsum products, with pricing increases averaging 2.9% to 8.2% over the last three months. During the same time, lumber and plywood pricing has decreased by 7.4%, countering sharp increases earlier in the year. Volatility is expected to continue for the foreseeable future.

Download pdf

Download the full report

For more information, including the market summary statistics, download the full research report.

Download report