“The U.S. economy is now racing back,” said Anirban Basu, chief economist at Associated Builders and Contractors, adding that the second half of the year should be “spectacular for economic growth." He presented his analysis during a July 14 webinar titled “Construction Executive's 2021 Q2 Construction Economic Forecast."
While single-family construction has been strong throughout the past year, multifamily is now beginning to grow as well, according to the American Institute of Architects’ Architecture Billings Index. During the pandemic, many cities experienced a “mass exodus,” said Basu, but multifamily and apartment construction will be quite active going forward.