Christine Mosholder
January 25, 2022
While the last several months have continued to keep us on our toes as an industry, the one question that keeps getting asked is, “When will construction return to normal?” Thankfully, the past few months seem to have provided an answer: sometime in 2022.
Both the spike in activity in 2021 and the drop in 2020 can be explained by COVID-19. Most projects that were canceled or postponed in 2020 due to the pandemic resumed construction in 2021 as the construction market stabilized. Furthermore, a combination of shelter-in-place orders and record low-interest rates created the ideal conditions for a boom in the residential sector. These two factors caused the market to be artificially subdued in 2020 and artificially elevated in 2021.
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