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4 Construction Industry Trends to Watch in 2024

The change and uncertainty in the world is undeniable, as everyone tries to prepare as best they can for whatever is ahead. The construction industry is no exception, so here are 4 trends to keep an eye on in the new year.

More Collaboration, Less Labor

Collaboration projects tend to get more done, and get it done more efficiently. More integration between specialties will be seen both to spread the wealth around to streamline processes. However, there will still be a labor shortage as the year goes on. Skilled labor is becoming harder and harder to find, which is particularly frustrating as the economy gets stronger and stronger.

More Offsite Construction

Prefabricated homes and buildings are starting to gain more of a market share, especially in extremely expensive areas where rents and property values continue to rise. There will always be a push toward owning over renting, and people are willing to pay the price.

Technology Is Here to Stay

The Internet of Things has already changed the way of life on a site, and it will continue to be an integral part this year. The new techniques give people an easy way to collect, store and manage a lot of information.

Costs Will Rise

Materials and labor will rise as demand goes up, so it’s predicted it will be harder for construction companies to stay within their margins for this year. This could be trouble because there will be a cap of how much the buyer will be willing to pay.

For more information on commercial construction contact Schonsheck for all of your general contracting needs. Schonsheck, Inc. in Wixom, MI is metro-Detroit’s most reputable building design and general contracting company. We provide innovating building design solutions for new construction, expansions, and renovations