The Pulse | Q1 2024 Edition | Greater Boston Market

The construction market in the Northeast has softened in the past 6 months. Although many contractors have healthy backlogs, new commercial construction starts have slowed and backlogs are turning into earned revenue without many large new builds taking their place. Macroeconomic factors such as interest rates, inflation, record vacancy rates (23.7% nationally!) in urban areas (i.e. Boston/Cambridge), and lack of tenant movement have led to many market sectors being stagnant for construction.. This update is a snapshot of today and we implore you to reach out with questions should you have any. 

Michael Weber / President  (781) 255-8881 mweber@gastonelectrical.com

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