As the COVID-19 pandemic recedes in the U.S. and restrictions on work and other interactions are lifted, the construction sector’s rebound is underway, with some markets bouncing back faster than others, analysts say.
“The economic recovery continues to pick up speed as vaccination rates improve and individuals continue to return to a ‘normal’ life,” says Richard Branch, chief economist at Dodge Data & Analytics. “The recovery in the construction sector, however, has been much more modest and uneven by comparison. Rising material prices, labor shortages and logistics issues have created a challenging environment for construction starts as project delays mount.”