The survey also asked respondents to rank prospects for 25 markets this year, and health care, K-12 schools and higher education came out on top.
- Health Care. In addition to the design and construction leaders who ranked the health care market first, the U.S. Department of Commerce projects that health care construction put in place will grow 7.9% in 2005, the fastest of any market sector. The needs are high, and the money is there. Double-digit increases in health insurance costs are providing capital, and an aging population and advancements in technology are increasing demand.
- K-12. Demographics, voter-approved bond measures, strong property tax revenue and court-mandated programs will move the K-12 market to the head of the class in 2005. Many school systems in the South and West need to expand to accommodate growing populations, while changes in school-finance formulas in some states have led to court-ordered school construction programs in poorer, urban districts.
- Higher Education. Higher education construction is at an all-time high. With the "baby boom echo" on its way, colleges and universities will need to upgrade and expand residence halls and educational facilities to deal with the population surge. Improvements to state budgets and a rebounding stock market will help financing.
For more information on the report, click here.
Watch for a New Look for Nation's Building News
Coming next month, Nation's Building News Online will have a new look and even more of the information you need and want — like the latest lumber prices, interest rates, floor plans, builder tips and industry news and information. Building news that will make your business click.
The new NBN will arrive in an even easier-to-read and more “user-friendly” format — with color-coded category tabs to help you locate information of interest to you quickly and weekly charts to give you an instant read on important economic information like starts, sales and prices on framing lumber, OSB and plywood.
Subscribe Your Employees to Nation’s Building News — Chance to Win Digital Camera
Subscribe your employees to Nation’s Building News Online. It’s free, easy and NAHB members who sign up three or more employees will be entered into the "Make Your Business Click" contest to win a digital camera. To learn more or sign up your employees, click here.
[ Go to Top ]