1. Nonres construction industry won’t start growing again until next year’s third quarter (BD+C)
"This report includes a section that specifically evaluates the impact of the pandemic on construction. JLL found that 93% of ongoing construction work had been in jurisdictions with stay-at-home orders that covered most of the U.S. population and jobsites."
2. July architectural billings remained stalled (AIA)
"The pace of decline during July remained at about the same level as in June with both months posting an ABI score of 40.0 (any score below 50 indicates a decline in firm billings). While firms reported a modest decline for inquiries into new projects—slipping from 49.3 in June to 49.1 in July— newly signed design contracts declined more critically, falling from a June level of 44.0 to 41.7 in July."
3. Florida becomes the third state to adopt concrete repair code (BD+C)
"ACI 562-19 Code Requirements for the Assessment, Repair and Rehabilitation of Existing Concrete Structures will be effective Dec. 31, 2020, when the seventh edition of the Florida Building Code becomes law."
4. Starting a design firm (LOA podcast)
"In today’s episode, we are talking about starting your own design firm—something that I think every architect walking the planet has thought about at various times throughout their career."
5. Demand for hotels is flattening as hotel owners burn through millions in cash reserves (Bisnow)
"Major U.S. hotel companies lost hundreds of millions of dollars in the spring as they gradually reopened hotels this summer to low demand, and their leaders expect there could be a long road back to profitability."
6. New York’s true nursing home death toll cloaked in secrecy (Associated Press)
“New York’s coronavirus death toll in nursing homes, already among the highest in the nation, could actually be a significant undercount. Unlike every other state with major outbreaks, New York only counts residents who died on nursing home property and not those who were transported to hospitals and died there.”
Related Stories
K-12 Schools | Mar 18, 2024
New study shows connections between K-12 school modernizations, improved test scores, graduation rates
Conducted by Drexel University in conjunction with Perkins Eastman, the research study reveals K-12 school modernizations significantly impact key educational indicators, including test scores, graduation rates, and enrollment over time.
MFPRO+ News | Mar 16, 2024
Multifamily rents stable heading into spring 2024
National asking multifamily rents posted their first increase in over seven months in February. The average U.S. asking rent rose $1 to $1,713 in February 2024, up 0.6% year-over-year.
Market Data | Mar 14, 2024
Download BD+C's March 2024 Market Intelligence Report
U.S. construction spending on buildings-related work rose 1.4% in January, but project teams continue to face headwinds related to inflation, interest rates, and supply chain issues, according to Building Design+Construction's March 2024 Market Intelligence Report (free PDF download).
Contractors | Mar 12, 2024
The average U.S. contractor has 8.1 months worth of construction work in the pipeline, as of February 2024
Associated Builders and Contractors reported that its Construction Backlog Indicator declined to 8.1 months in February, according to an ABC member survey conducted Feb. 20 to March 5. The reading is down 1.1 months from February 2023.
Market Data | Mar 6, 2024
Nonresidential construction spending slips 0.4% in January
National nonresidential construction spending decreased 0.4% in January, 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 $1.190 trillion.
Multifamily Housing | Mar 4, 2024
Single-family rentals continue to grow in BTR communities
Single-family rentals are continuing to grow in built-to-rent communities. Both rent and occupancy growth have been strong in recent months while remaining a financially viable option for renters.
MFPRO+ News | Mar 2, 2024
Job gains boost Yardi Matrix National Rent Forecast for 2024
Multifamily asking rents broke the five-month streak of sequential average declines in January, rising 0.07 percent, shows a new special report from Yardi Matrix.
K-12 Schools | Feb 29, 2024
Average age of U.S. school buildings is just under 50 years
The average age of a main instructional school building in the United States is 49 years, according to a survey by the National Center for Education Statistics (NCES). About 38% of schools were built before 1970. Roughly half of the schools surveyed have undergone a major building renovation or addition.
MFPRO+ Research | Feb 27, 2024
Most competitive rental markets of early 2024
The U.S. rental market in early 2024 is moderately competitive, with apartments taking an average of 41 days to find tenants, according to the latest RentCafe Market Competitivity Report.
Construction Costs | Feb 22, 2024
K-12 school construction costs for 2024
Data from Gordian breaks down the average cost per square foot for four different types of K-12 school buildings (elementary schools, junior high schools, high schools, and vocational schools) across 10 U.S. cities.