Construction spending will remain relatively level next year. An overall 5.2 percent growth is slated for 2007 compared to the 5.1 percent increase, without inflation, anticipated for the end of 2006. Continued activity of nonresidential projects will balance loss in the residential sector. Panelists agreed that single-family homes will take the hardest hit. Areas of the country such as the Plain States, the Great Lake States and the Gulf States will see further single-family residential growth; however, that growth will be countered by the end of an artificial housing demand created, in part, by high-end housing in areas such as California, Florida and the nation's capital.
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