Construction forecasting is a bit of a guess and mixed bag. I have read several expert reports and found some common threads in the data. There is good, average and even a bit of bad news. According to these forecast experts, 2018 could be full of surprises but all seem to forecast that the construction industry should have mostly good news for this year. Overall, construction for the United States is predicted to increase 4 to 5 percent in nominal dollars. The residential markets are forecasted to have the most growth with an increase of about 6 percent. Non-residential is predicted to grow at a modest 2 percent. Non-building construction, roads and bridges, is predicted to be at 4 percent.
Geographically, the South and West will likely be the regions of the most growth in 2018. Experts favor Texas, Nevada and New Mexico as leaders in construction growth. This is in harmony with the population forecast charts that predict Florida, Nevada, Utah, Colorado and Washington State will see significant increases in population growth. Conversely, New York, South Dakota and Nebraska will see modest declines in construction starts. The forecast for states that will lose in population are New York, Connecticut, Pennsylvania, Illinois and Vermont.