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Jeffrey Weiner's Thoughts of the Week - Construction Boom! Marcum LLP’s Commercial Construction Index for the first quarter of 2024 is out, and the big news—which will come as no surprise to those of you trying to navigate the roads of many major cities—is that #construction is booming. That’s despite rising costs and interest rates. And that trajectory is likely to continue, given this week’s news that the Fed might cut interest rates at least once this year. The trend in construction is an example of how, when there is a need in the marketplace, opportunity is always percolating, even when there are significant obstacles. #AskMarcum https://hubs.ly/Q02BVf7Q0

High interest rates and labor challenges are only two factors contributing to the slowdown in ground-up construction activity. Here’s a look at the main trends impacting the current state of ground up construction. https://hubs.ly/Q023NjkK0

predicts construction growth will top out at about 2% nationally, weighed down by the economy, reports Ethan Lott of the Pittsburgh Business Times. But performance is likely to vary heavily from sector to sector.    TOP SECTORS: Dodge expects the big winner will be nonbuilding construction, expected to be up 17% thanks to the $1.2 trillion infrastructure law. Dodge expects most subsectors to see double-digit percentage growth, even adjusted for inflation. Manufacturing construction is also expected to remain high, though it might decline some from the record-setting activity in 2022.   DARK SPOTS: Any sector not benefitting from public funding, however, will probably fare worse. The firm predicts single-family and multifamily residential construction will dip 6% and 2%, respectively. Commercial construction is expected to be down about 5%.

Here’s a look at the state of the commercial construction market in Minnesota and the Midwest. https://lnkd.in/g5KTrDjp #PropertyManagement #CommercialProperty #PremierCommercialProperty #CommercialConstruction

New single family projects led construction spending in September reflecting the continuous rise of single family starts since the beginning of the year. Read more of Senior Economist Arsene Aka's insights on the Dodge Construction Network blog: https://lnkd.in/eKRJfGY6

It looks like ground-up construction starts are expected to slow down as developers navigate ongoing market challenges. Here’s a great look into the main trends impacting ground up construction, and how to navigate headwinds successfully. https://lnkd.in/g9bd7FWh

New single family projects led construction spending in September reflecting the continuous rise of single family starts since the beginning of the year. Read more of Senior Economist Arsene Aka's insights on the Dodge Construction Network blog: https://lnkd.in/eKRJfGY6

New single family projects led construction spending in September reflecting the continuous rise of single family starts since the beginning of the year. Read more of Senior Economist Arsene Aka's insights on the Dodge Construction Network blog: https://lnkd.in/eKRJfGY6