Construction Market Report Winter 2024

Several leading indicators point to slower growth for certain sectors in 2024. The Architectural Billing Index, Construction Confidence Index and Backlog are lagging from the previous quarters. The sectors with the slowest growth are multifamily, office buildings, entertainment, and retail. Sectors that are stable or growing are distribution centers, higher education, health care and transportation.

Although escalation varies from one geographic market to the next, anticipated escalation for 2024 is in the 3-6% range.

Download the full Winter 2024 Market Conditions Report below for more insights and detailed information on today’s construction market.