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For the fifteenth consecutive month architecture firms reported increasing demand for design services in April, according to a new report today from The American Institute of Architects (AIA).
Construction input prices increased 0.8% in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data released today.
Global office demand could drop by between 10% and 20% as companies continue to develop policies around hybrid work arrangements, a Barclays analyst recently stated on CNBC.
National nonresidential construction spending was down 0.8% in March, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau.
At the close of 2021, projects under construction stand at 62 projects/8,100 rooms.
Through year-end 2021, Marriott, Hilton, and IHG branded hotels represented 585 new hotel openings with 73,415 rooms.
The market with the greatest number of projects already in the ground, at the end of the fourth quarter, is New York with 90 projects/14,513 rooms.
A panel of construction industry economists forecasts 5.4 percent growth for the nonresidential building sector in 2022, and a 6.1 percent bump in 2023.
Projects scheduled to start construction in the next 12 months stand at 1,821 projects/210,890 rooms at the end of the fourth quarter.
December’s Architectural Billings Index (ABI) score of 52.0 was an increase from 51.0 in November.
Using predictive cost data is the key to accurately evaluating future building projects—capturing, analyzing and applying building data work.
What’s the most critical step in creating a new building? Savvy architects, owners and developers find this question easy to answer: It’s the scope, of course. With every project start and every new building team, the first and often most daunting hurdle is establishing a decent budget estimate. In preconstruction meetings, when questions arise about budget—especially errors, omissions, misinterpretations and just plain “forgot it”—fingers point back to the original scope of work, or SoW.
Most contractors in association survey list costs as top concern in 2022.
Seventy-four percent of firms plan to hire in 2022 despite supply-chain and labor challenges.
