Nonres. Construction Employment Sees Record Drop

Source: Associated Builders and Contractors  The construction industry lost 975,000 jobs on net in April, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. This was the largest recorded decrease in construction jobs since the government began tracking employment in 1939, despite construction remaining an essential industry in much of the nation […]

Billings Index Sees Record Drop in March

Source: American Institute of Architects  Reflecting the deteriorating conditions in the overall economy, demand for design services from architecture firms recorded a record fall, according to a new report from The American Institute of Architects.  AIA’s Architecture Billings Index score of 33.3 for March reflects a decrease in design services provided by U.S. architecture firms (any score below 50 […]

ABC: Nonresidential Construction Spending Dips

Source: Associated Builders and Contractors  National nonresidential construction spending fell 0.1 percent in March and is up 2.0 percent compared to the same time last year, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $802.6B for the month.  Among 16 nonresidential subcategories, 12 […]

ABC’s Const. Backlog Indicator Dips in Nov.

Source: Associated Builders and Contractors Associated Builders and Contractors reported its Construction Backlog Indicator fell slightly to 8.8 months in November, a 1.5 percent decline from October’s reading. “Nonresidential construction backlog has generally been trending lower since the spring of 2019, but as a practical matter, this represents little cause for concern,” said ABC Chief […]

Forget 2030, We’re Under-Constructed NOW!

By Thomas M. Brophy, ABI Multifamily Director of Research As one LinkedIn user lamented on all of Scottsdale’s new multifamily development, “our unofficial bird is now the Crane.” Given all the market chatter about overheated multifamily construction, both inside and outside of commercial real estate circles, I felt it prudent to dig a bit deeper […]