U.S. Construction Demand Remains Strong Despite Inflation, Supply Shortages
Franklin Street’s report on the U.S construction market explores factors impacting the industry, from inflation and supply shortages to low interest rates and recovering employment. The report also offers exclusive insight and predictions on what’s ahead for the industry.
- 2020 was an extremely volatile year for the construction industry as the Covid-19 pandemic halted or delayed many construction projects.
- During the height of the pandemic (April 2020), construction commodity prices decreased as the fate of the industry was questioned and the pandemic’s impact remained unknown.
- Now, however, an influx of demand for construction services has led to significant supply shortages and inflated costs for building materials.
- While inflation has begun to slow, low interest rates and the overall favorable economic environment will continue to fuel demand for construction.