Following three years of precipitous decline, the construction market may have finally hit bottom and be in the early phase of a rebound with housing leading the way. McGraw-Hill Construction is forecasting that total construction starts will climb 11% to $466.2 billion in 2010, following an estimated 25% decline in 2009. The forecast was announced at the 2010 Construction Outlook conference in Washington, D.C. Photo: Bruce Buckley Robert Murray delivered the McGraw-Hill Construction forecast. Related Links: See How Last Year’s Forecast Measured Up After a 39% drop in construction between 2006 and 2009, an improving residential market and signs of
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.