According to the Associated Builders and Contractors analysis of data by the U.S. Census Bureau, national nonresidential construction spending decreased 0.4% in January 2024. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.190 trillion.
According to the National Association of Home Builders, Multifamily starts in the U.S. are predicted to decline in 2024. Meanwhile, the remodeling sector remains on solid ground and will hold steady this year.
According to new data from CBRE, commercial real estate lending in the U.S. demonstrated signs of stabilization at the end of 2023, with borrowing costs appearing to have peaked, even as transaction activity remains subdued.
According to the American Institute of Architects latest AIA/Deltek Architecture Billings Index, the ABI remained below 50 for December 2023, indicating soft business conditions in the U.S. to close out 2023.