WASHINGTON — July 17, 2024 — Spending on non-residential buildings is forecast to increase more than 7% this year, according to the consensus mid-year construction forecast from the American Institute of Architects. Spending will fall to just 2% in 2025, as market challenges continue to affect the pace of growth. The AIA's consensus-building forecasts anticipate solid construction spending for 2024, driven by the industrial and institutional sectors, followed by a slowdown in 2025. Warehouse construction went from just over 6% to more than 9% of the market, while spending on data centers increased significantly and now represents more than 3% of the market. Despite the general increase in construction spending, growth has slowed and is expected to continue to slow down until 2020.
While commercial construction faces challenges, the growth of manufacturing, data centers, and institutional sectors, particularly education, will help offset weaknesses in other areas. The AIA Consensus Construction Forecast panelists provide a mid-year update on construction spending and trends. Construction spending is expected to show solid growth in 2024, but to slow down considerably in 2025, according to the latest mid-year update of construction forecasts from the Consensus Institute of Architects (AIA) of the American Institute of Architects (AIA). Construction spending, while still increasing, has slowed so far this year, its growth rate has slowed so far this year, and this slowdown is expected to continue until 2025. WASHINGTON — January 22, 2024 — Spending on non-residential buildings will experience a modest increase of 4% in 2024, after increasing more than 20% last year, according to the latest construction forecast from the Consensus of the American Institute of Architects. Given the current economic conditions and the high costs of new construction, the trend towards reconstruction is expected to continue to grow. These projections are derived from the analysis of a panel of leading construction forecasters from across the country.
Commercial facilities are expected to remain stable, while manufacturing construction will record growth of almost 14% this year, followed by a stabilization in 2025. Spending on non-residential buildings will see a modest 4% increase in 2024, after increasing more than 20% last year, according to the latest consensus construction forecast from the American Institute of Architects. Spending on commercial facilities will remain stable this year and next, manufacturing construction will increase nearly 10% this year before stabilizing in 2025, and institution-building will record mid-digit gains this year and next.
