Construction Market Report – Fall 2025

Economic activity across the U.S. construction industry has cooled further heading into year’s end. This Construction Market Report – Fall 2025 spotlights how high interest rates, shifting trade policies, and tariff uncertainty continue to slow new project starts, with many developers delaying or reevaluating investments.

Despite the slowdown, demand for data centers and renewable energy projects remains strong, buoyed by federal incentives and technological growth. Labor shortages persist, with unemployment at just 3.2%, intensifying competition for skilled workers. Material costs have stabilized but remain elevated, steel prices are holding firm, and lumber has rebounded after mid-year dips.

Download the full Construction Market Report – Fall 2025 below for more insights and detailed information on today’s construction market.

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