Builder blog

Current events and commentary regarding the construction industry. Opinions are my own.
Justin Reginato, Ph.D.
  • About
  • Builder Blog
  • Tacos & Tower Cranes
  • In the News
  • For Students

Architecture Billings Slip But Still Red Hot

7/21/2021

0 Comments

 
It was bound to happen. Since bottoming out in May 2020 with a score of 32, the Architecture Billings Index (ABI) published by the American Institute of Architects has been on a meteoric rebound, peaking last month at 58.5 (a value greater than 50 means that architecture billings are increasing; conversely, any value less than 50 means billings are decreasing. The ABI is a nine-to-12 month leading indicator of construction activity). That kind of growth was unlikely to last forever and it didn't. The June ABI was reported today at 57.1 which is a decrease but is still the third highest reading since at least 2012. Long story short: architects are still busy which means builders should remain relatively busy for the foreseeable future.
Picture
Three out of four regional ABI figures were down, but again, they are still very robust:
  • Northeast: 53.2 (down  from 54.2 in May)
  • South: 57.3 (down from 59 last month)
  • Midwest: 62 (down from last month's 63.4 but still torrid)
  • West: 59.7 (up from May's 57.4 and the only gainer)

Picture
​The record for industry sectors was 50-50 with two small increases and two decreases:
  • Multi-family Residential: 57.9 (down from 59.5 in May)
  • Commercial/Industrial: 61 (up from 60.6 last month)
  • Mixed Practice: 56.4 (down from 57.9 in May)
  • Institutional: 57.3 (up fractionally from May's 57.1)
Picture
A particular bright spot is project inquiries which reached a new record with a 71.8. The cost of timber and lack of labor have apparently not stopped owners from reaching out to architects.
Picture
All in all, the good news keeps on coming. Stay safe out there...fatigue is real.
0 Comments

    Archives

    January 2024
    October 2023
    August 2023
    July 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    November 2022
    October 2022
    September 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    September 2019
    August 2019
    September 2018
    June 2018
    April 2018
    March 2018
    February 2018
    January 2018
    March 2016
    February 2016
    January 2016
    November 2015
    February 2015
    December 2014
    November 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    July 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    July 2012
    May 2012
    April 2012
    February 2012

    Categories

    All
    Economics
    Real Estate
    Technology

    RSS Feed

Proudly powered by Weebly
  • About
  • Builder Blog
  • Tacos & Tower Cranes
  • In the News
  • For Students