In the 25 years of business we have seen the shifts and what I observe is that the trend of slowing starts in the residential housing area. Starting late last year, developers were finishing construction of homes over $1 to $2 million and not seeing a lot of interested buyers. There is a niche market for homes under $700,000 that is doing well with many new rental units being built.
“The chief economist for Dodge Data & Analytics has provided an outlook for the US construction industry in 2020, and his perception is that there will be a decline in most sectors – but this slowdown will not be a severe crash and, in part, is caused by a skilled labour shortage“. There are various factors for this that are range from economy, trade war prices, cost of purchase etc.
What we have also seen is that when there is a downshift there is more creativity that arises to set companies apart and find ways to improve processes and products. I look forward to 2020 as we continue to provide more for everyone.