New commercial construction demand is expected to be on the rise in 2015, but so are construction costs. A new report from JLL Project and Development Services highlights several trends for the 2015 nonresidential construction industry including an increasing backlog, rising labor costs, a drop in overall unemployment and new construction becoming more cost effective than leasing existing space.
(more on JLL's trends for the 2015 construction market...)
Construction Backlog Indicator Hits Post-Recession High
Total Construction Spending Forecast to Increase 11.2% in 2015