The construction industry has been able to operate as an essential business throughout the pandemic and we have seen Atlanta’s existing in-town construction continue at a seemingly robust pace. Like you, we are keeping an eye on the long-term impact that this crisis will have on all segments of our economy. One hint of trouble on the horizon may be found in this April 22, 2020 report from Architect News.
It reflects a sharp drop in the latest Architecture Billings Index report – a measurement of the demand for architectural services, specifically a decline in demand for design services, in new project inquiries and in design contract executions. All building sectors were negatively impacted – institutional, multi-family residential, commercial/industrial and mixed practice.
We will continue to watch the indicators for these sectors and will provide you with information as it becomes available.