Construction’s recovery from the COVID-19 pandemic will vary greatly by city, but will most likely begin this year, a new report from construction management firm Cumming says.
The company’s Q1 construction market analysis predicts that the industry’s resurgence will return in earnest starting in the third quarter of this year, and the firm said it is already seeing a significant pick up in activity and discussions related to new and upcoming projects.
The cost of construction is up in the majority of markets that the company tracks, due to the skilled labor shortage and rising material prices, especially for items such as steel and lumber, it noted.
