In January 2008, RSMeans’ Construction Cost Index (CCI) increased 3.5% year-over-year, but only 1.7% on a quarter-to-quarter basis, annualized. The present is a particularly pressure-free time with respect to construction cost hikes. For those with steely nerves, the time to build might be quite propitious. First, interest rates have fallen again, provided you can line up the financing. Second, construction costs are likely to continue under control due to a number of factors, as outlined in this report.