A new press release generated by the American Institute of Architects reports a positive change in the number of inquiries for possible new projects, calling this “an early signal towards a recovery for the design and construction industry”.
The AIA uses its Architecture Billings Index (ABI), a leading economic indicator that provides an approximate nine to twelve month lag time between architecture billings and construction spending, as a means of gauging an increase or demand for design services.
The October ABI new projects inquiry score was 58.5, following the 59.1 mark in September (any score above 50 indicates an increase). The October ABI rating was 46.1, up sharply from 43.1 in September. This score, however, indicates a continued decline in demand for design services and the AIA remains cautious, saying “it is far too early to think we are out of the woods.”
Using our very accurate BA&A index, we can report a significant increase in new project inquiries for new home construction and green building, especially from people building in Connecticut, Rhode Island, and New Hampshire.
If you are thinking about building an energy efficient home, visit our website to learn about our Design Services and Architectural Fees (yes, our fees are listed on our website!).