Despite an increase in the cost of supplies and an ongoing shortage of labor, market conditions in 2018 are generally regarded as positive by the nation’s contractors and architects.
According to a survey just released by the Palo Alto, California-based Houzz, an industry website and online community, some 72 percent of all respondents in a survey of more than 400 architects, 809 remodelers, and 415 design-build firms classified the 2018 business climate as either “very good” or “good.”
Such optimistic attitudes contradict predictions among those same respondents regarding material costs and labor shortages, with 59 percent of the design-build firms and 60 percent of the remodelers surveyed saying they thought the cost of materials will continue to increase this year.
More than half of remodelers and design-build firms also indicated that they think labor availability will continue to be a problem for the rest of the year.
In response, two in five construction-related companies said they are hiring this year, with 83 percent of all respondents in every category either already expanding their staffs or planning to.
The survey, entitled 2018 Houzz U.S. State of the Industry, also revealed that respondents are anticipating business growth rates of anywhere from 7 to 12 percent for the rest of the year, with up to 70 percent of those same respondents saying they expect to see an increased demand for their services.
By Garry Boulard
Your comment will be posted after it is approved.
Leave a Reply.
Get stories like these right to your inbox.