Commercial planning, which includes office, hotel, retail and warehouse projects, has generally been in decline since its November 2022 peak due to high interest rates, supply chain disruptions and stricter lending standards, but Martin noted the segment began to stabilize to close the year.
For example, hotel and data center planning drove growth in the commercial segment of the DMI in December, while stronger healthcare and public building planning supported activity on the institutional side, said Martin. Still, year over year, it was 2% lower than in December 2022, according to Dodge.
