Construction Market Report Winter 2022
2021 was a robust year for construction volumes, as it brought many challenges for the industry such as hyperinflation, delays, cancellations, shipping concerns, and the rise of the Delta and Omicron variants.
Despite these challenges, our experts do not anticipate these trends to repeat in 2022. The inflation rate on many building materials is likely to be at a lower rate than in 2021 and in some cases, at a lower cost. Supply chain issues are more likely to continue through the year but should improve as manufacturers get back to their full production rates.
According to The American Institute of Architects (AIA), the Architectural Billing Index (ABI) showed a national average of 52 as of December 2021, which signifies a positive growth in construction activity as we head into 2022.
Download the full Winter 2022 Market Conditions Report below for more insights and detailed information on today’s construction market.
*A previous version of this report noted predicted escalation of 6-8%, however this prediction has since
been revised to 8-12% based on recent current events such as the war in Ukraine and rising gas prices.