The construction industry continues to rebound.
According to the "2017 Dodge Construction Outlook," total U.S. construction starts in 2017 are predicted to rise 5 percent over 2016 levels to $713 billion. That projected increase follows an estimated gain of 1 percent in 2016 and 11 percent in 2015.
The sectors seeing the most upswing are single-family housing, commercial building and institutional building. As these numbers suggest, the construction industry has entered into a more mature phase of its expansion.
The biggest challenges in the complex construction and property area are how to leverage sophisticated modeling programs, new technological tools and techniques to help contractors and developers prevent and mitigate losses, including those resulting from climate change and especially severe weather.
Contractors and developers want a more sophisticated approach to risk management and capital allocation, operational efficiency and supply chain management.
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