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September 28, 2022

ACEC Releases Fall 2022 Private Industry Brief – Commercial & Residential Real Estate

Design and construction spending for single-family and multifamily residential markets in the U.S. is projected to reach a combined $602 billion, up 38% year-over-year, according to FMI. The res­idential markets is expected to drive con­struction spending through 2022 and the overall industry outlook remains positive for H2 2022.

The U.S. Census Bureau tracks new residential construction through the number of building permits filed and authorized for single-family and multifamily homes.  This includes national, regional, and local data. In ACEC’s latest issue from the award-winning industry brief series, the commercial and residential real estate Private Industry Brief, considers the hottest and coldest markets for residential growth in the U.S. 

ACEC members look to this data to gauge the amount of development that could occur in a region. AEC firm leaders know that residential activity is an economic driver for further development including new roads, schools, and retail, to name a few.  Therefore member-firms will want to track which states have the highest number of building permits filed and authorized.  According to 2021 data, which is reported annually by the U.S. Census Bureau Building Permits Survey, these five states had the largest percent increase and largest decrease in permits filed and authorized from 2020 to 2021, including single-family and multifamily permits:

Check out ACEC’s latest Private Industry Brief on the commercial and residential real estate markets.  ACEC’s Private Industry Briefs are available via subscription; they are free, and you can cancel at any time. Visit here to subscribe: https://programs.acec.org/industrybrief/


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Date

September 28, 2022

Category

Uncategorized

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