Commercial Construction Starts And How They Might Impact Your Business In 2017
When the average person thinks about construction trends, they’ll likely picture the most popular methods for building a new home during a given period. But commercial construction trends are just as important to the average person’s daily experience. For instance, office buildings, hospitals, schools, hotels, and retail stores are all subject to different building trends and methods. Knowing more about how these buildings are constructed and what they contain can inform builders, contractors, and designers, and help them manage their businesses.
Overall, nonresidential building construction rates did slip slightly over the past couple of months throughout the United States. And while the slip may be disheartening to some, those little changes can actually be a good thing, according to Robert A. Murray, chief economist for Dodge Data and Analytics.
On the Dodge Data and Analytics Website, Murray is quoted as saying, “This is consistent with the up-and-down behavior that’s often been present in the current expansion, and a continuation of this pattern means that renewed strengthening can be expected in the months ahead.”
So builders, take heart and don’t be discouraged. In fact, there were some sectors that did see increased activity in June and July, like office buildings, hotels, and healthcare facilities. However, rates in the midwest, in particular, for overall commercial construction did decrease over these summer months.
But again, that doesn’t mean that this is a long-term trend. And it never hurts to keep looking ahead. The firms who responded to ENR Midwest’s yearly Top Contractors survey reported strong increases in revenue during 2016, particularly in Illinois, Indiana, Ohio, and Michigan.
What other information can Midwestern builders, contractors, and designers put to good use? When, where, and how often buildings are constructed matter significantly, of course, but so does what’s inside. While laminate countertops are prevalent throughout all kinds of buildings (which is not surprising, since they can last for up to 20 years), other kinds of high quality countertops may come into or go out of favor over time. Understanding not only how often and where these buildings are constructed but what they contain can allow you to plan and market your products, like quartz or laminate countertops, more effectively. The fact that green building materials are becoming more popular, for example, may help to decide what products to push. Fortunately, laminate countertops can be an eco-friendly option for many organizations and can allow them to drive their mission of going green throughout their facilities.
Ultimately, construction trends are subject to frequent change, so it’s essential that those in the industry keep their eyes peeled for new information as it emerges. The more knowledge you have, the better off you are. That’s why our SQUAD tool is so popular: it lets you pass the most accurate pricing information along to your clients and positions you as a leader in your industry. For more on how we can help your business succeed, get in touch with us today.