Construction Markets StabilizingAt Low Levels During 2012 In its updated 2012 construction market forecast released on July 18, McGraw-Hill Construction sees an uneven recovery. MHC predicts a stronger-than-expected rebound in the housing market and a modest uptick in the private non-residential building market, dampened by continued weakness in the public building and non-building markets. MHC now expects total new construction starts to increase 2.5% in 2012, after an anemic 0.3% gain last year.The biggest percentage boost comes from housing, which is rebounding from historic lows. Single-family housing is expected to increase 21% in dollar value this year, while multifamily housing
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.