Recent data trends are indicating that the coronavirus may seriously impact the construction industry now and in the coming weeks. Market intelligence expert, Keith Prather expects the U.S. to see a surge in new manufacturing and supply chain-related construction projects reenter the market.
Prather, and senior strategist, DeWayne Ables explain how the pent up demand from COVID-related construction shutdowns is likely to lead to a “construction tsunami” in the third quarter due to our economy’s historically low-interest rates and rise in market liquidity. Ables notes that the design-build delivery method is best for these circumstances given the fast-paced method is centered around problem-solving and teamwork, allowing for precise decision making and flexibility.
General contractors and construction companies who deploy the design-build method will benefit as the market turns around, as they are nimble and quick to adapt to uncertainties and opportunities.