Slight improvement in architecture billings, according to new report
BPC Staff Jul 23, 2020 | 8:32 pm
1 min read time
178 wordsAll Latest News, Real Estate and DevelopmentDemand for design services from architecture firms started to stabilize in June, following their steep declines in April, the American Institute of Architects reported. AIA’s Architecture Billings Index score for June was 40, compared with 32 in May. The index score indicates that a significant share of architecture firms still experienced a drop in billings from May to June. However, the share reporting declines slowed significantly, according to the report. Index scores for new project inquiries and new design contracts also showed signs of stabilizing, posting scores of 49.3 and 44.0 respectively. “The Midwest saw a rise in billings by 7.1 points from May to June, which is a positive marker for Iowa architecture firms and the construction sector,” said AIA Iowa Executive Director Jessica Reinert said in a prepared statement. “The most positive signs across the U.S. are in multifamily residential. In Iowa, healthcare and government work have remained strong … but are beginning to see a slow-down. Until hospitality, office, and retail industries can fully open those sectors will remain weak across Iowa and the U.S.”