Q4 Construction Delivery Outlook
We’re here to ensure that you have the most up-to-date information about market trends and conditions. Within this report, you will find data that clarifies the ‘Why’, including the most current market conditions, the observed impact of these conditions, and proactive measures we can take to be fully prepared for what’s to come. We realize the market is changing, unpredictably and rapidly. The information contained in this report is using the most up-to-date data available as of October 2022.
A History of Tilt-Up Construction
While Thomas Edison was credited for a number of revolutionary inventions, he also deserves some credit as one of the pioneers of tilt-up construction. Very few realize that tilt-up construction became popular around the turn of the century, when Edison became a prominent name, and even fewer know that the practice originated long before this.
Sand: The Forgotten/Disappearing Construction Material
When you hear the words “construction materials,” it is only natural to think of the more common commodities, like lumber, steel, or glass. Someone in the industry might also include less popular materials like gypsum or copper. However, a material not often considered is one that directly affects the production of a number of vital materials: sand, which is in short supply globally.
Volatility of Construction Materials in Q3
The previous two years have been a wild ride when it comes to the prices of construction materials. While some materials have fluctuated drastically, many others have steadily risen. With bottlenecks in the supply chain and rising gas prices, along with other untimely factors, the cost of securing necessary construction materials placed an added burden on every firm across the nation. These costs had to be, unfortunately, passed on to the consumer.
What to Know About Semiconductor Construction in Phoenix
Phoenix natives know that driving north on Interstate 17 means two things – traffic and scenery. But well before the terrain turns to majestic mountains, there is another changing landscape, just as you’re leaving Phoenix, that has also been turning some heads.
The Loosening Supply Chain in Q3
In late 2021 and into the early part of 2022, the supply chain outlook was dire. A combination of logistical bottlenecks, production setbacks, and labor shortages brought shipping to a near halt. The combination of volatile global politics and domestic instability further complicated the situation.
Breaking Down Q3 Construction Labor
When it comes to employment in the construction sector, the numbers can be a little misleading if you are not exactly sure how to interpret them. There are so many different positions that need to be filled, across a number of skilled trades, so the overall figures may look positive when, in fact, there is still a long way to go. This is the case for the present situation in which the construction industry finds itself.
What to Expect for Construction in H2
When looking at the sectors in which we build (industrial, mixed-use, office, retail/hospitality, medical, and tenant improvement), demand still remains across almost all of them. There is an expected 14.3 percent growth in nonresidential construction expected for this year, before slowing down going into 2023.
Construction Labor Outlook for Q2 of 2022
One of the major pain points for general contractors, right now, is the shortage of skilled workers. Despite the steady decline of construction unemployment, firms are still struggling to find the necessary manpower across a number of different trades.