A McGraw-Hill Construction forecast projects the U.S. construction industry will start to recover in 2011. The value of new construction projects starting next year is predicted to rise $445.5 billion, which would be up 8 percent from the low this year.
Although single-family housing is the sector expected to see the largest rebound in 2011, commercial buildings such as offices, stores and warehouses should see a 16 percent gain next year after dropping 17 percent this year and 43 percent in 2009. Additionally, b construction-starts hit a 50-year lowb this year, according to this article in The Wall Street Journal, so naturally the recovery is expected to be slow.
Learn more about the McGraw-Hill Construction forecast here. For more information about commercial real estate, the changing workplace, marketplace and occupancy trends and more, join us on Facebook (Morris Southeast Group) and follow us on Twitter @KenMorrisBroker.
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Tags: building, commercial real estate, Morris Southeast Group, office buildings
