Like their peers across the U.S., Oklahoma builders think 2017 will be a good year.
The Associated General Contractors of America’s annual outlook shows builders in Oklahoma and nationwide have a positive outlook for all 13 market segments in their annual survey. There’s not as much optimism for one area.
"The only market segment where contractors are less optimistic this year than they were last year is the multifamily residential sector, although that still garnered a net positive reading of 11 percent," said AGC Chief Economist Ken Simonson.
In Oklahoma, however, there’s a 33 percent net positive outlook for multifamily residential projects.
Oklahoma builders also think they’ll have stiffer competition for projects this year than the rest of America will, with 82 percent of Oklahoma firms surveyed saying increased competition is among their chief concerns for 2017. Just 48 percent of all U.S. firms expect increased competition.
A big worry for Oklahoma and the U.S. was finding quality workers, but more work and more workers is the general mindset for builders in 2017.
"Most firms expect key market segments to grow; plan to expand their head counts; and are prepared to invest in new equipment, new training, new techniques and new technologies," said AGC CEO Steve Sandherr. "Yet, they remain quite concerned about labor shortages, tight margins, and the growing cost for for health care and regulatory compliance."
Sandherr said the optimism seems partly based on President-elect Donald Trump’s promises to invest in infrastructure. In Oklahoma, builders are most optimistic about the higher education market segment.
