Construction Outlook 2016

Construction companies have had a  higher level of optimism in the last year, now that the market is on its way back. We have seen a much higher number of projects bidding and starting in the last calendar year.

Based on the AGC of America survey: The challenges facing a growing industry: The 2016 Construction Hiring and Business Outlook, our unproved optimisms are actually bearing fruit in the market.

Construction Outlook 2016

The survey shows growth in the available dollar volume of projects, increasing from 2015 to 2016 in 12 out of 13 markets sectors. The highest projected increase (at 21%) was seen in the sectors of Retail, Warehouse and Lodging.

Street View - Construction Outlook 2016

Others sectors projecting an increase from high to lowest:
Hospital (21%)
Private Office (19%)
Multifamily Residential (14%)
Higher Education (13%)
K-12 Education (12%)
Public Building (12%)
Water/Sewer (8%)
Manufacturing (7%)
Highway (6%)
Other Transportation (3%)
Power (1%)

Only one sector projected a decrease, which was Federal at a decrease of 1%.

At Harmon, we echo these projections as we have seen more projects bidding in 2016 compared to previous years. We are in the process of adding staff to manage the increased number of projects seen in the Kansas City market.

Want to learn more? Call 913.962.5888 or contact us here.