AIA Chief Economist Kermit Baker breaks down the industry's burgeoning renovation revolution
Archinect
OCTOBER 26, 2022
It’s the first time in the 20 years the AIA has collected this data that renovations have breached 50%. In 2005, toward the end of a pre-recession building boom, renovations made up approximately one-third of billings. That share has been increasing steadily since 2017, when it was 44.4%, up to 52% this year.
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