Amidst rumblings of a new recession, many industry experts are predicting a good year for construction. CMD (formerly Reed Construction Data) is forecasting a 6.5% rise in construction starts over the previous year. Dodge Data and Analytics is projecting a slightly more conservative 6% increase.
While the news is positive, not all markets will see the same gains. CMD’s Expansion Index evaluates key indicators of non-residential construction starts in markets across the nation and gives them a rating based on overall potential. Shrinking markets are those that receive a score of 1.0 or less. Expanding markets score 1.0 or greater. The busiest markets with ratings of 5.0 or greater are deemed hot spots.
The 2016 commercial construction hot spots according to CMD’s 18-month Expansion Index are:
- Pascagoula, MS – Index Rating 83.56
- Panama City-Lynn Haven, FL – Index Rating 55.2834
- Merced, CA – Index Rating 42.72
- Alexandria, LA – Index Rating 39.802
- Lebanon, PA – Index Rating 13.7869
- Greely, CO – Index Rating 10.60
- Yuma, AZ – Index Rating 9.34
- Las Vegas, NV – Index Rating 7.98
- Farmington, NM – Index Rating 7.54
- Port St. Lucie-Fort Pierce, FL – Index Rating 7.5264
- Grand Rapids-Wyoming, MI – Index Rating 7.3147
- Bowling Green, KY – Index Rating 7.2714
- Flint, MI – Index Rating 5.8289
- Gadsden, AL – Index Rating 5.6619
- Florence, AL – Index Rating 5.1101
- Philadelphia-Camden-Wilmington, PA-NJ-DE-MD – Index Rating 5.0597
Markets that scored the lowest on the index are:
3. San Angelo, TX – Index Rating 0.0131
2. Tyler, TX – Index Rating 0.0088
1. Knoxville, TN – Index Rating 0.0075
See the complete CMD Expansion Index here.
The post 2016 Commercial Construction Hot Spots appeared first on ModSpace Blog – Construction News, Updates & Insights.