Dive summary:
- Put-in-place construction of all types in the U.S. will reach $918,897 million by the end of this year, according to consulting firm FMI, and that would put the total 8% ahead of 2012.
- Residential construction will lead, with FMI predicting a 23% increase in single-family in-place building on top of the 19% growth last year and multifamily growing 31% – less breathless than the 47% surge it saw in 2012.
- FMI says some industries are beginning to plan for growth, though wait-and-see is still a widely held attitude, and commercial construction growth will be more modest than the residential numbers.
From the article:
The rich shale regions of the country are seeing a lot of construction activity. With oil and gas exploration booming, these regions are in need of housing, as well as the construction of roads, rail and pipelines to move the product from the fields to refining and distribution sites. ...