The trend moving forward in 2016 for home builders reports a predicted growth rate of 6% for an estimated 712 billion dollars! Looks like a very optimistic year for builders.
Some areas of concern are a shortage of skilled labor. A large portion of skilled workers left the industry during the recession and did not come back. So in each area of the building industry it is hard to find competent workers with the skillet needed to complete projects. This doesn’t come as a surprise because many young people these are are tech savvy, and spend their time behind a computer as opposed to getting their hands dirty with manual labor.
Prefab construction is another growing trend. It offers reduced construction time, less waste and most importantly it is cost saving. No worries about weather when it comes to this type of onsite building.
General contractors are taking a closer look at what contracts they sign with. Not wanting to get in over their heads by not completing projects, they are being more selective.
Building with green materials continues to grow. The average citizen is much more aware of the environment and are willing to pay that little bit extra to make their personal contribution to our world. Green building for residential homes accounts for 26-33 % of the market.
Increased fines are being set for onsite accidents. There is a forces on being trained properly with the right certification to go with it. Safety measure need to be in place in all sectors of the building industry. Accidents happen, but doing everything possible to reduce this is the focus.
Dodge Data predicts single-family construction will increase approx 20% this year. There had been a slowdown in the past. The current rate is 53%, and predictions say by the end of 2017 it will be around 91%
Using laser while constructing the building has not been used much in the past but is a growing trend. A laser scanner will provide millions of data points, useful in constructing a model before construction even takes place.
Re modelling will be especially strong. Consumers are wanting to invest in their current homes, instead of buying. In fact home improvement spending has doubled in the past 4 years. The luxury market is spending the most money.
The American Institute of Architects has found that there is a real desire for homeowners seeking walk able communities. People want to be able to walk to work, local restaurants and be near public transportation. Baby boomers are downsizing into urban areas at twice the rate of millennials. Leading a simpler life is what it is all about for them.