Since lumber, steel, and other construction material costs began skyrocketing during the summer of 2021, Archinect has followed the ongoing fluctuation of construction costs. During our July construction coverage, the cost of lumber began to drop, which brought a slight glimmer of relief... View full entry

A new economic report released by the American Institute of Architects this morning indicates the seventh consecutive month of increasing architecture billings. The Architecture Billings Index (ABI) rose by one point from 54.6 in July to 55.6 in August. New project inquiries and design contracts... View full entry

The Biden administration has announced a range of measures intended to address the US housing crisis. The measures, which do not require congressional approval, and are separate from measures included in the pending infrastructure bill, aim to built and preserve 100,000 affordable homes over the... View full entry

The American Institute of Architects (AIA) has released the latest edition of their biannual Compensation Report, offering an insight into the impact of the COVID-19 pandemic on architectural salaries. The report found that despite a steep economic recession during the first half of 2020, salaries... View full entry

Construction input prices have risen by 23.1% within the last 12 months, according to an analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index data, carried out by the Associated Builders and Contractors. For non-residential construction, this increase totaled 23.4% over... View full entry

Demand for architectural design activity has grown for the sixth consecutive month, according to a new report released by the American Institute of Architects this morning. The Architecture Billings Index (ABI) for July continued to indicate positive business conditions with a score of... View full entry

The AIA is applauding Congress as the latest iteration of the bipartisan infrastructure bill that passed the Senate this week includes for the first time key provisions that it says will help modernize the built environment at a critical junction for building safety and adaptability nationwide... View full entry

According to Turner and Townsend’s 2021 International Construction Market Survey, the top 10 most expensive cities to build, in order, are:  TokyoHong KongSan FranciscoNew York CityGenevaZurichBostonLondonLos AngelesMacau With increased activity levels in construction markets in 2021 as the... View full entry

Nonresidential construction in the United States is expected to healthily increase in 2022, but only after a continued decline throughout 2021, according to the AIA. In their mid-year Consensus Construction Forecast for July 2021, the organization projects that nonresidential construction spending... View full entry

The American Institute of Architects released its latest economic report this morning, signaling a continued trend of increasing demand for design services. The Architecture Billings Index (ABI) for June remained at an elevated level with a score of 57.1, dipping only mildly compared to ... View full entry

Residential construction in the United States is accelerating, despite the high costs of materials caused by the COVID-19 pandemic, according to new data released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). Within their report, which focuses on new... View full entry

At the Associated Builders and Contractors’ (ABC) Q2 Construction Economic Update and Forecast webinar, ABC chief economist Anirban Basu affirmed that the construction industry is on the path to normalcy. Enthusiastically, he claimed that high raw material prices will eventually go down, going... View full entry

According to the Professional Services Management Journal (PSMJ) Resources’ Quarterly Market Survey, proposal activity for AEC firms continued to grow at a rapid pace in quarter two of 2021.  The survey’s net plus/minus index (NPMI) was 52% for overall proposal activity, which was the... View full entry

Lumber prices have seen their largest monthly drop on record, after a year of inflated prices driven by COVID-19 disruption. Throughout June alone, lumber prices declined more than 40%, driving an 18% overall decrease throughout 2021. The decline is attributed to a number of factors, including... View full entry

The latest economic report from the American Institute of Architects continues to reflect growth at a "vigorous pace." The Architecture Billings Index (ABI) for May expanded for the fourth consecutive month, rising to a score of 58.5 compared to 57.9 in April — reportedly one of the... View full entry