Construction and Real Estate Forecast 2018
One of the best pieces of news in residential construction is that home ownership rose in 2017 for
the first time since 2004, thanks to the new class of homeowners, the millenials. What’s driving the market is a shift of wanting to own rather than rent. With more people wanting to buy homes, not only does it help drive construction, but it boosts the economy with sales of furniture and other goods and services related to the home.
With the effects of the new tax laws, increased corporate profit will enable companies to expand and remodel, which may lead to a greater demand for commercial projects.
COMMERCIAL CONSTRUCTION TRENDS
-The changes in age structure of the population may generate a demand for construction and design in healthcare facilities.
Wellness and Green Design
-A 2016 study by Harvard University found that employees in green-certified buildings scored 26 percent higher on cognitive function tests and had 30 percent fewer sick-building symptoms than those in non-certified buildings. Companies can start to improve workplace culture as well as productivity, health, and well-being.