According to a new report from the American Institute of Architects, U.S. Architecture firm billings slowed in June 2018, but remained positive for the ninth consecutive month.
AIA's Architecture Billings Index (ABI) score for June was 51.3 compared to 52.8 in May; it remains positive since any score over 50 represents billings growth. As a result, June's ABI shows that demand for architecture firm services continues to improve across all sectors.
"Architects continue to see increases in demand for their services this summer, with new project work coming in at a healthy pace," said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. "However, business conditions are beginning to vary across the country. While essentially remaining flat in the Northeast and Midwest, billings jumped in the South while dropping in the West."
Key ABI highlights for June include:
Regional averages: West (46.9), Midwest (49.8), South (57.4), Northeast (50.2)
Sector index breakdown: multi-family residential (54.6), institutional (51.6), commercial/industrial (53.4), mixed practice (49.3)
According to a new report from the American Institute of Architects, U.S. Architecture firm billings slowed in June 2018, but remained positive for the ninth consecutive month. AIA's Architecture Billings Index (ABI) score for June was 51.3 compared to 52.8 in May.
According to a new report from the Mortgage Bankers Association, U.S. mortgage credit availability increased in June 2018. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit.
Freddie Mac's Primary Mortgage Market Survey is reporting that U.S. mortgage rates over the past week maintained their recent slide. After a rapid increase throughout most of the spring, mortgage rates have now declined in five of the past six weeks.
According to the National Association of Realtors, U.S. pending home sales decreased modestly in May 2018, and have now fallen on an annualized basis for the fifth straight month. A larger decline in contract activity in the South offset gains in the Northeast, Midwest and West.