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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 that its Construction Backlog Indicator increased to 8.4 months in April, according to an ABC member survey conducted April 22 to May 6. The reading is down 0.5 months from April 2023, but expanded 0.2 months from the prior month.
Data from Gordian breaks down the average cost per square foot for a three-story hospital across 10 U.S. cities.
National nonresidential construction spending increased 0.2% in March, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.19 trillion.
As of Sept. 14, 166 properties reported damage to 8,956 units, about 1.4% of the total supply of apartments, according to ApartmentData.com.
Marriott has the most rooms currently under construction with 482 Projects/67,434 Rooms.
Weakness in spending was widespread.
JLL’s latest construction report shows stability ahead with tech and innovation leading the way.
For the economy, the rate of growth may be low but it’s running on all cylinders.
“The July figures show the continuation of healthy trends in the construction sector of our economy,” said AIA Chief Economist, Kermit Baker.
AIA’s latest compensation report finds average compensation for staff positions up 2.8% from early 2015.
An analysis of mortgage-backed loans suggests that demand remains relatively steady.
Spending in all 12 of the remaining nonresidential construction subsectors retreated on both an annualized and monthly basis.
On average, becoming an architect takes 12.5 years—from the time a student enrolls in school to the moment they receive a license.
