Despite Challenges, Construction Growth Expected
2021 Q4 Pricing and Trends Influence 2022 Outlook
Construction has entered 2022 with guarded enthusiasm. After multiple years of COVID-influenced supply chain and shipment delays—and a new challenge of inflation effects—it is no wonder many projects are looking to find creative ways to meet 2022 budgets and schedules. The good news is construction, as an industry, is reporting continued increasing demand. The Associated General Contractors of America (AGC) released survey results from over 1,000 construction firms across the country, pointing to high expectations for this coming year. Growth is anticipated in warehouses, healthcare, and multi-family within the private sector. The work is there, which means so too are lenders and buyers.
Let’s look at the challenges of the past quarter and Pence’s experience with current lead times and pricing.