HORIZONTV FEATURING BD+C: WATCH EPISODES ON DEMAND AT HORIZONTV
Building Design+Construction's monthly Market Intelligence Report offers a snapshot of the health of the U.S. building construction industry, including the commercial, multifamily, institutional, and industrial building sectors. This report tracks the latest metrics related to construction spending, demand for design services, contractor backlogs, and material price trends.
Associated Builders and Contractors reported today that its Construction Backlog Indicator increased to 8.2 months in March from 8.1 months in February, according to an ABC member survey conducted March 20 to April 3. The reading is down 0.5 months from March 2023.
Too many of the nation’s school districts are having to make it work with less-than-ideal educational facilities. But at what cost to student performance and staff satisfaction?
Asking rents for multifamily units increased $8 during the month to $1,721; year-over-year growth grew 30 basis points to 0.9 percent—a normal seasonal growth pattern according to Yardi Matrix.
Gains were in all segments, but the industry will need even more workers as demand accelerates.
Growth in most public and private nonresidential types is offsetting the decline in residential work.
Spending was up on a monthly basis in 13 of the 16 nonresidential subcategories.
The pandemic and supply chain woes may limit gains.
Texas, Wyoming have worst job losses since February 2020, while Utah, South Dakota add the most.
Construction input prices are 21.1% higher than in October 2020.
Supply chain and labor woes continue.
Gain occurs even as firms struggle with supply chain challenges.
Beaumont-Port Arthur, Texas and Sacramento--Roseville--Arden-
A drop in residential work projects adds to ongoing downturn in private and public nonresidential.
