Pasadena, CA (PRWEB) December 23, 2012
The American Institute of Architect’s Architecture Billings Index showed continued growth in demand for architectural services, with its November score revising upwards for the fourth straight month. This growth in the architectural industry is independently supported by jobs data on ArchitectureCrossing.com
The Architecture Billings Index (ABI) surveys monthly billing data for architecture firms nationwide and is considered an economic indicator of future architecture and construction spending trends and overall demand in these industries. The November ABI score was 53.2, up from October’s ABI score of 52.8. With any score above 50 indicating an increase in billings, the November data showed the fourth straight month of higher billings and strong demand for architectural services.
The November index of 53.2 was the highest score since 2007, indicating an upward swing in the industry. Increased billings are welcome signals that the industry as a whole is seeing an upwards trend in growth. In the past few years, many firms have either laid off architects or implemented hiring freezes in response to the slow market. Now these same firms are beginning to hire in more consistent numbers due to the growing demand for architectural services. With the housing market continuing its recovery, builders are taking advantage of record-low interest rates to begin construction projects.
Hiring for architecture jobs has been strong over the last few months. As of December 21, 2012, there were 2,272 openings listed on ArchitectureCrossing.com, a leading job site. The majority of the openings have come from firms in California, New York, Texas, Virginia, and Florida; these hiring trends correspond with regions where construction has picked up again. With the housing market continuing its recovery, builders are taking advantage of record-low interest rates to begin construction projects. While construction is nowhere near the levels it was at in the mid-2000’s, the industry has picked up enough that there is some concern there will not be enough construction workers and architects to meet the demand.
“As the economy continues to recover, we’re seeing companies that have put off building or construction projects over the last few years finally have the budgets to start them. Real estate is making a comeback, and it’s trickling down to all the related areas. I wouldn’t say we’re in a real estate boom, but people are starting to build and buy property again. Firms are hiring architects again to meet this demand,” notes Harrison Barnes, CEO of ArchitectureCrossing.com. “We’ll see if this market slows down again in a few months, but for now we’re seeing strong growth in the architecture sector.”
ArchitectureCrossing.com is a job site based in Pasadena, CA. It was purchased by the Employment Research Institute in 2005, which is owned by A. Harrison Barnes.