2007 Construction Outlook: Has Market Reached Its Peak?

摘要

Over the past several years, as the industry has continued to tally record-setting construction starts, executives have been left wondering, "How hot can this market get?" With starts hitting an estimated 672 billion dollars in 2006, McGraw-Hill Construction forecasts that total construction starts have finally peaked. For the first time since 1991, the industry is headed for a cool down with starts forecast to drop 1 percent to 668 billion dollars in 2007, according to McGraw-Hill Construction. Single family homes - the sector that buoyed the market in recent years - will largely be responsible for dragging total starts back down. A 5 percent decline in housing starts is predicted for 2007, as single family home starts are expected to drop from 281 billion dollars to 268 billion dollars and multifamily housing starts will fall from 70 billion dollars to 66 billion dollars dollars.