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2022 is speeding along, and with March quickly approaching, this means another Dodge Construction Network report has been released. In January, total construction starts increased 4% to a seasonally-adjusted annual rate of $923.4 billion. Nonresidential building starts increased 4% and nonbuilding... View full entry
Lumber prices have seen dramatic rises and falls during the COVID-19 pandemic. In May 2021, prices saw a 90% increase on the previous 12 months, adding an extra $36,000 onto the cost of constructing a new home in the United States. The record-high in May was followed a 40% decline in prices in... View full entry
The Dodge Momentum Index has continued to fall in January, yielding a 7% decline to a four-month low of 152.9 from the revised December reading of 163.7. Commercial planning fell 9% and institutional planning fell 1%. Previously on Archinect: Dodge Momentum Index declines in November, remains near... View full entry
November 2021 saw 4.5 million Americans resign from their jobs; a peak month of the so-called “Great Resignation” and the largest figure since 2000. As with the broader economy, architecture firms face an ongoing battle to attract and retain staff, a battle which existed before the pandemic... View full entry
The nonresidential building sector is expected to rebound through 2023 after a slow recovery with the broader economy last year, according to a new report from the American Institute of Architects. The AIA’s Consensus Construction Forecast for December 2021, comprising leading economic... View full entry
CRE publication The Real Deal has released its annual list of the ten most commercially successful firms in New York City’s high-profile building market. Most of our readers will recognize these firms as regulars in Archinect Jobs. As the architects of record, these firms appeared in... View full entry
Ports from coast to coast are eyeing improvement projects to help alleviate supply chain issues that have plagued businesses since the start of the COVID-19 pandemic. The focus on port projects in the recently enacted Infrastructure Investment and Jobs Act is part of an overall push from the Biden administration to help alleviate the clogged supply chain in the U.S — Construction Dive
As reported by Construction Dive, an additional $241 million in grants through the United States Maritime Administration Port Infrastructure Development Program (PIDP) will join the $17 billion being directed towards seaports. The additional funds will go toward 25 projects in 19 states. And... View full entry
According to a new Dodge Construction Network report, the value of commercial and multifamily construction starts in the top 20 metropolitan areas of the United States has increased 18% from 2020 to 2021. Nationally, commercial and multifamily construction starts increased 16% in 2021. The... View full entry
AEC firms are positive about industry growth in 2022 and expect to continue employing a hybrid workforce, according to a survey by Openasset. The AEC Industry Outlook Survey of 500 architecture, engineering, and construction professionals found that 78% believe their firm will experience positive... View full entry
Wrapping up a tumultuous business year 2021, the American Institute of Architects reports that architecture firms ended the year on a "high note with strong business conditions." The Architecture Billings Index (ABI) score for December rose to 52.0, a one-point increase from 51.0 in November. The... View full entry
Although the prices of some raw materials fell in December, costs are still sky high for contractors looking to purchase them, according to a new analysis by the Associated General Contractors of America. Overall, the price of construction materials jumped nearly 20% in 2021, the group said Thursday. — Construction Dive
In addition, according to the Associated General Contractors of America’s (AGC) 2022 Construction Hiring and Business Outlook Survey, material costs were listed as a top concern for contractors this year. Though prices moderated for some construction materials in December, they still... View full entry
In the last 22 months, workers' pandemic-related absences have cost employers more than $78.4 billion — nearly $1 billion each week — according to a Dec. 20 analysis from the Integrated Benefits Institute. — Construction Dive
The Integrated Benefits Institute used data from the U.S. Bureau of Labor Statistics along with its own dataset to analyze disability wage payments, state disability insurance, sick leave wages, and employee benefits for its calculation. The states of California, Texas, New York, along with the... View full entry
National consulting group Appleseed Strategy has released the results of their 2021 Financial & Economic Survey, a U.S. business study of AEC firms to gauge the ongoing impact of the Covid-19 pandemic on the sector. 43 individuals and 39 companies in architecture, engineering, landscape... View full entry
Months of isolation made people rethink the way they wanted to live. That meant their buildings would change. That meant construction, and architects became useful again, after being abandoned. But the craziness of a new era has made all builders and architects simultaneously empowered by their new in-demand status while fully threatened by costs and availability of all the products and people necessary to build. — CT Insider
Earlier in the year, labor and supply chain issues had caused markets in steel and timber to skyrocket, delaying many commercial and residential projects industry-wide, in addition to triggering what some think will be a boom in demand once the pandemic subsides. However bright the prospects are... View full entry
The latest economic report issued by the American Institute of Architects is out today, indicating continued increasing demand for design services for the tenth consecutive month in November. The pace of growth as expressed in the Architecture Billings Index (ABI) softened slightly compared to... View full entry
