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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.
The Architecture Billings Index (ABI) score in October is 52.0.
Nonresidential construction input prices fell 0.1% for the month and are down 2.0% compared to the same time last year.
Fewer than one in 10 AEC firms doing multifamily work reported a decrease in proposal activity in Q3 2019, according to a PSMJ report.
In terms of number of deals, the sector saw a drop of 4.4% over the last 12-month average.
Private nonresidential spending fell 0.3% on a monthly basis and is down 5.7% compared to the same time last year.
The annual rate for nonresidential fixed investment in structures declined 15.3% in the third quarter.
The Architecture Billings Index (ABI) score in September is 49.7.
The primary issue for most contractors is not a lack of demand, but an ongoing and worsening shortage of skilled workers available to meet contractual requirements.
Harvard’s Joint Center for Housing Studies focuses on growing income disparities among people 50 or older.
Market watchers, though, caution about a “surfeit” of investment creating a bubble.
