For painting pros, the ability to maintain and expand business is tightly connected to the health of the construction industry. Now that we are a few months into 2016, it’s time to take a look at how this year is shaping up. The good news is that -despite some challenges -the outlook is positive, with steady growth across a number of sectors, from an increase in single-family construction and residential green building, to the growing remodeling market, to the expected entrance of millennials into the home-buying market. Here's the breakdown:
Predictions indicate 2016 will be a strong year for the industry, with most industry experts predicting 5 percent to 6 percent growth, and the value of construction starts nearing $712 billion. Some of the factors that are expected to influence the rate of growth range from new technology trends, to workforce concerns, to homebuyer preferences -but one common prediction dominates: 2016 will bring strong demand and booming business.