According to the Architecture Billings Index (ABI) released last week, architecture firms reported an improvement in business conditions for the second consecutive month in September, marking the strongest growth in nearly two years.
Architecture firms specializing in residential recorded their highest scores in nearly seven years, as interest rates continue to fall and the mortgage crisis recedes.
“We are reading similar signs all across the board,” said Billy Rose, President and co-founder of The Agency. “Consumers have been holding off on larger/luxury purchases and projects. Now that they feel the economy is solid and steady again, there is a long line of those who are buying, building and remodeling homes.”
Firms in the West, which previously had seen declining billings since 2007, had the biggest gains of all four regions.
For more on the report, go here.
Photo Above: The latest creation from Bowery Design Group, located in the Bird Streets – view listing.