Architecture Billings Stabilize After Nearly Two Years of Decline

Date: 22 November 2024
Source: www.aia.org
Architecture Billings Stabilize After Nearly Two Years of Decline
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www.aia.org

Date: 22 November 2024

For the first time in 20 months, architecture billings have reached a point of stability, according to the October AIA/Deltek Architecture Billings Index (ABI), which posted a score of 50.3.

This score signifies a balance between firms reporting increases and decreases in billings, a welcome shift after an extended period of declines.

While client interest in new projects has grown, caution remains, as evidenced by a continued seven-month decline in the value of new design contracts.

“October marked a turning point with billings stabilizing, giving firms a more optimistic outlook for 2025,” said AIA Chief Economist Kermit Baker, Hon. AIA, PhD. “In fact, 41% of firm leaders anticipate net revenue growth from 2024 to 2025, with 32% expecting increases between 5% and 9%.”

October ABI Highlights:

  • Regional Performance: South (52.1); West (47.6); Midwest (46.9); Northeast (45.6)
  • Sector Performance: Institutional (50.5); Mixed Practice (48.0); Commercial/Industrial (47.0); Multifamily Residential (45.6)
  • Project Inquiries Index: 54.1
  • Design Contracts Index: 45.3

It is important to note that regional and sector categories are calculated using three-month moving averages, which may not align exactly with the national score.

As the industry steps into a more stable phase, firms are cautiously optimistic about the future, with a focus on leveraging the opportunities that come with increasing project inquiries.

Visit AIA’s website for detailed information about this, and past billing index reports.

600450 Architecture Billings Stabilize After Nearly Two Years of Decline glassonweb.com

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