As we head into the final months of 2019, the construction cycles are shifting. The US housing market, down 3.2% from the same period a year ago, is currently in Phase D, Recession, and facing the worst decline since limping out of the Great Recession nearly a decade ago. Are we in for housing crisis 2.0 in 2020? Not quite.
As a leading sector, the housing market has been reeling throughout 2019, creating difficulties for tract and specialty builders alike as well as those businesses that rely on new housing activity and the associated consumer purchases that accompany new and existing home sales. Heading into 2020, we are poised for a more optimistic landscape, as early leading signals are beginning to imply. This webinar will reveal a more upbeat outlook for residential activity in 2020.
On the nonresidential side of the coin, most operators are likely feeling optimistic, with backlogs extending well into 2020 and seemingly clear skies ahead. Unfortunately, the leading indicators and the present cyclical decline in the broader US economy spell headwinds for the industry in 2020. Join us for our October 17 webinar to see the latest leading indicator signals and to understand why you will face a more competitive bidding environment in 2020.
We will also cover relevant raw material pricing trends, a possible upcoming opportunity to load up on materials near the bottom of the price cycle, the general state of the economy, "noise" that deserves your attention, and the reason labor shortages and frustrations will not be disappearing any time soon, despite the coming headwinds for commercial markets in 2020.
Attend our webinar on October 17 to learn more!
Connor Lokar
Economist