U.S. Construction Volume Trends

U.S. Key Sector Movements

  • There is a moratorium in New York and only select services are profitable at the moment.  Ultra-luxury is still fairly strong in some areas but impacted by unions renegotiating early next year, making investors nervous.
  • Life science manufacturing is strong but there is an oversupply of start-up space.
  • Office – activity in the consolidation of space and sales for conversion but traditional office is unlikely to get traditional investment and owners are trading properties at a third of pre-pandemic levels.
  • Infrastructure is seeing some funds from the infrastructure bill but it is slow in driving projects – which could be impacted by the outcome of the election.  Aviation is fairly strong, roads and rail not so.

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