Dive Brief:
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For the first time this year, architects in every region of the country reported increased billings in June, the American Institute of Architects reported on Wednesday.
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The AIA’s Architectural Billings Index increased last month to its highest mark since 2007, largely because of strong demand for new buildings from the education, healthcare, public safety and government sectors. In addition to an increase in demand for design services, inquiries were up in June, the index revealed.
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The June ABI score was 55.7, up from 51.9 in May. The new projects inquiry index reached a mark of 63.4, up from 61.5 the previous month.
Dive Insight:
Architectural billings are an indicator of construction spending nine to 12 months in the future — when the designs the firms are creating now translate into building activity.
Despite a June surge in apartment construction, architectural billings in the multifamily sector have dwindled every month this year and, in fact, are at their lowest point since 2011, according to the AIA. Chief Economist Kermit Baker said in a statement that demand for apartments and condos “may have crested.”
