Apartment completions to surpass 500,000 for first time ever
While the U.S. continues to maintain a steady pace of delivering new apartments, this year will be one for the record books.
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While the U.S. continues to maintain a steady pace of delivering new apartments, this year will be one for the record books.
National nonresidential construction spending declined 0.2% in June, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.21 trillion. Nonresidential construction has expanded 5.3% from a year ago.
The commercial building sector continues to be under financial pressure as foreclosures nationwide increased 48% in June compared to June 2023, according to ATTOM, a real estate data analysis firm.
Gordianās data features more than 100 building models, includingĀ computer data centers. These localized models allow architects, engineers, and other preconstruction professionals to quickly and accurately create conceptual estimates for futureĀ builds. This table shows a five-year view of costs per square footĀ forĀ one-story computer data centers.Ā
Spending was up on a monthly basis in 13 of the 16 nonresidential subcategories.
The pandemic and supply chain woes may limit gains.
Texas, Wyoming have worst job losses since February 2020, while Utah, South Dakota add the most.
Construction input prices are 21.1% higher than in October 2020.
Supply chain and labor woes continue.
Gain occurs even as firms struggle with supply chain challenges.
Beaumont-Port Arthur, Texas and Sacramento--Roseville--Arden-
A drop in residential work projects adds to ongoing downturn in private and public nonresidential.
In the third quarter alone, Marriott opened 60 new hotels/7,882 rooms accounting for 30% of all new hotel rooms that opened in the U.S.
The top 25 U.S. markets account for 33% of all pipeline projects and 37% of all rooms in the U.S. hotel construction pipeline.