Dodge Data & Analytics is a leader in the construction industry in providing data, analytics, news and intelligence in the Southeastern United States. Their outlook for the Multi-Family Construction for 2015 is very optimistic. Starting from 2012 through 2014 there was an average of 296,000 new multifamily units, compared with the 2015 through 2017 with projections of 405,000 new units per year.
“The construction expansion should become more broad-based in 2015, with support coming from more sectors than was often the case in recent years,” said Robert Murray, chief economist and vice president for Dodge Data & Analytics. “The economic environment going forward carries several positives that will help to further lift total construction starts. Financing for construction projects is becoming more available, reflecting some easing of bank lending standards, a greater focus on real estate development by the investment community, and more construction bond measures getting passed. While federal funding for construction programs is still constrained, states are now picking up some of the slack. Interest rates for the near term should stay low, and market fundamentals (occupancies and rents) for commercial building and multifamily housing continue to strengthen.”
According to the 2015 Dodge Outlook Report, which was presented at the 76th annual Outlook Executive Conference held by Dodge Data & Analytics in Washington, D.C.
Commercial building will increase 15 percent, slightly faster than the 14 percent gain estimated for 2014. Office construction has assumed a leading role in the commercial building upturn, aided by expanding private development as well as healthy construction activity related to technology and finance firms. Hotel and warehouse construction should also strengthen, although the pickup for stores is more tenuous.
Institutional building will advance 9 percent, continuing the moderate upward trend that’s been established during 2014. The educational building category is now seeing an increasing amount of K-12 school construction, aided by the financing made available by the passage of recent construction bond measures. Healthcare facilities are expected to show some improvement relative to diminished activity in 2014.Multifamily housing will increase 9 percent in dollars and 7 percent in units to 405,000. Occupancy and rent growth continue to be supportive, although the rate of increase for construction is now decelerating as the multifamily market matures.
The multi-family housing industry needs a professional construction group to keep their building attractive to residence and generate revenue. As a leader in the industry, SWET Construction Group we understand the current trends and partner with managers and owners to give our clients the edge over the competition. Our offices throughout the Southeastern United States are committed to building quality relationships with our clients and create living environments, families want to live while protecting construction cost and quickly responding to emergency situations.
SWET Construction group is a leader in the industry for big construction projects, cutting edge building technology and the latest trends, don’t hesitate to call us 321-594-5569, for your next project.