US Construction: Reports
To obtain a list of the best reports and sources of US construction market addressing the current spend on construction and how this spend is expected to trend going forward. The focus should be in this order: commercial office real estate, healthcare/hospitals, transportation, leisure (hotels, casinos, stadiums, museums), government (federal, state, and local).
Commercial Office Real Estate Reports
- IbisWorld presents the commercial real estate market report that addresses also addresses the increase in the value of construction.
- The total revenue has increased to $1 trillion, the number of businesses has increased to 2,525,618, and the annual growth from 2014 to 2019 is 3.9%.
- According to the outlook report for 2020 presented by JLL, the industry is growing at a slow and steady rate. JLL, Jones Lang LaSalle Inc., is a commercial real estate and development company.
- According to a survey by Engineering News-Record that is featured in this report, construction related to government-funded sectors will increase: "healthcare, education, transportation, and water-related projects".
- There is a contrast in growth between the public and private sectors. The private companies that focus on multifamily, hotels, and commercial office space will not grow as much as the government projects.
- Between 40% and 60% of private construction companies are forecasting a decline in activity within 12 to 18 months.
- Deloitte, National Association of Realtors, and Situs Rerc present a report that provides an analysis of the different property markets such as the office, industrial, retail, apartment, and hotel.
- In 2018, there were fears that the hotel industry would build more hotels than the demand required. This thought no longer holds true as this market is now at equilibrium.
Summary of our Early Findings
- Our continued one-hour research was able to provide insights from some reports that addressed commercial office space. These reports also had some additional information on other sectors that would be relevant. For this reason, we have included this information.
- In our research, we were unable to find direct data on whether there was an increase in the construction spend. We were able to determine if there was an increase or a forecast in the sector. Our recommendations below put this factor into consideration.
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