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Construction starts are set to increase just 0.2% in the coming year, says Dodge Chief Economist Robert Murray.
Material prices also are expected to remain at a higher rate through 2019.
An FMI Corp. market forecast predicts next year’s total construction put-in-place to increase 5.6% to $1.4 trillion, roughly the same as this year’s escalation of 5.5%. Its outlook also calls for an increase of 6.2% in non-residential construction, up from last year’s 5.3% rise.
Housing will experience a 2% downturn in 2019, with multifamily housing dropping 6% and single family construction staying flat.
PCA forecasts a 2.4% boost in public works in 2019, followed by smaller bumps of 1.2% and 0.2% in 2020 and 2021, respectively.
Association (ARTBA) reports a 4.6% increase in highway work in 2018, to be followed by a 4.9% increase in 2019. After a 2.2% drop this year, bridge work is expected to increase 1.6% in 2019.
In 2019, overall commercial starts will drop 3%, with a 6% decline in the hotel sector generating the largest loss.
Institutional building is expected to rise 3% in 2019, following a 1% increase in 2018.
On November 8, 2018, in Butte County, one of the most tragic wildfires took place destroying around 14,000 homes, 514 businesses, and 4,265 other buildings. To help show support our team at PARADIGM Structural Engineers teamed up with other local businesses in SF to collect coats for victims who lost their homes during the fire. Together, we were able to collect around 15 bags of coat. Click here for additional ways you can help victims of the Camp Fire.