increase yet again
Just last week we shared in a past blog how construction starts are
set to rise by 6% come the end of the year across the country
and reach $506 Billion. On the local level here in Massachusetts,
the same optimism regarding the construction industry can be felt.
Just in the most recently concluded month of July, there were a
staggering 118,300 workers all employed in the construction field.
This number, we later learned, is still on the up.
The Associated General Contractors of America came
forward with these statistics which bettered the increase in
construction jobs from July of 2012 when a still impressive 113,700
jobs were on record. As a whole, the year-over-year improvement in
the construction industry was at 4% in July.
Due to the widespread lack of inventory seen
throughout the entire country, the strengthening construction
industry is a welcomed sign. The incredible amount of demand, as
often referenced, has seemingly drained the inventory over recent
times. Now, with inventory steadily rising to a more healthy level,
it has become evident that developers of single-family homes,
condominiums, office spaces and more are far more confident about
the future of the real estate industry. It is due to this
confidence that construction firms are actively hiring in order to
take advantage of the likelihood that what they build will be
purchased or leased far sooner than later.
With each passing month, there continues to be what
seems like endless positivity making headlines regarding the real
estate industry and its supporting fields of work such as
construction. It thus goes without saying that it is quite simple
to make the prediction that the real estate industry going forward
is on the right path to realize far more successes.
More Information: Boston Business
Journal