What I'm reading, what's being reported
On one hand, office construction is slated to expand by 7 percent this year and 5 percent next year.
On the other, we saw office construction spending fall from $52 billion in 2009 to $36 billion two years later. Lodging fell even deeper — from $25.5 billion in 2009 to about $9.1 billion two years later.
Commercial construction spending is on the road back to 2009 levels in 2015.
At least that's what I'm reading this week in Construction Executive. The magazine lays out a variety of good data points in "Outside Influences on the Interior Construction Market."
In a separate graphic, commercial construction spending grew 19.7 percent for the year, as of December 2013. But nonresidential construction jobs lost in December totaled 14,100.
On the residential side, California-based CoreLogic reported this week that midstate foreclosures dropped in December.
Harrisburg-Carlisle topped the local list with 1.71 percent of outstanding mortgage loans in foreclosure. That was down from 2.09 percent in December 2012.
Lancaster County was No. 2 at 1.74 percent, a decrease of 0.25 percentage points compared with December 2012 when the rate was 1.99 percent.
Lebanon County came in at 1.75 percent in December. That was down from 2.15 percent a year earlier.
York-Hanover continues to have the highest local foreclosure rate at 2.54 percent. However, that dropped from 2.98 percent in December 2012.
Distressed sales, though relatively high in York County, are making up a smaller piece of the sales pie each year, according to the recent data from the Realtors Association of York and Adams Counties. Last year, distressed sales accounted for about 22 percent of all county home sales.
What are you expecting from the commercial and residential markets the rest of the year? Level or increased spending? Maybe a dip?
Are you tired of hearing that next year is the "year of growth" for the industry?