Risk management specialist Bill Tryon interprets the latest figures. Construction spending is generally tied to macroeconomics so as the economy is in fuller recovery, I would expect construction spending to be up too. Indeed, according to the most recent data from the Department of Commerce, the value of construction put in place in June is up 5.5% over the same month in 2013. However, month-over-month totals have been fairly flat since January. Review of the Architectural Billings Index, produced by the American Institute of Architects (AIA) Economics & Market Research Group, indicates likely continuation of this trend in the short term, with seasonal adjustments in winter and spring.
In recent years, the Architectural Billings Index has been a reasonably accurate indicator of construction spending, typically leading the market by 11-12 months. Beginning in November 2013, the index fell below 50, indicating a material decline in billings and probability for a corresponding decline in construction spending in the winter of 2014. Since May, the index has returned to positive territory, with the most significant improvements in multifamily, commercial and industrial billings and relatively flat billings for institutional properties.
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April 15, 2025
In this edition of Affordable Housing Updates, we tackle the funding issues that are arising due to changes in federal spending, how to optimize the green building process as the green certification world changes, and offer two project profiles that showcase how Partner may help you with your next project. Last but not least, learn about Partner's SiteLynx client portal, an intuitive platform for report ordering, delivery, and analysis.
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The WAIRE Program is one of many steps California is taking to address air quality and emissions within the commercial real estate sector. For warehouse operators, compliance with this program is essential, not just to avoid penalties but to align with broader trends in sustainability and regulatory compliance.
April 10, 2025
Partner Engineering and Science, Inc. is pleased to announce the appointment of Alex Greear as Relationship Manager, bringing over five years of specialized due diligence expertise to expand our client service capabilities.
