Survey: Construction Executives Optimistic on Next 12 Months

Feb 27, 2019

Construction industry executives expressed optimism about the year ahead in the 43rd annual Wells Fargo Construction Industry Forecast.

The survey tallied the opinions of 441 industry contractors, manufacturers, and equipment distributors in 48 states to determine the proprietary National Optimism Quotient (OQ). The 2019 OQ registered at 122, down from last year’s peak reading of 133. However, this year’s forecast is the eighth consecutive year where industry leaders are confident in the near future.

“Even if this year’s activity remains the same as last year, many see it as a positive for the industry due to significant growth over many years,” said John Crum, Construction Group national sales manager for Wells Fargo Equipment Finance. “If 2019 turns out the way survey respondents indicate, we could be in for another good year.”

Still, not everything in the forecast was copacetic. Among the respondents, the ability to hire qualified workers was their primary concern. Forty-seven percent of contractor respondents cited hiring qualified workers as their top cost focus and 36 percent of all respondents identified it as the leading risk to the industry. Executives ranked the search for qualified workers above the impact created by healthcare costs, employee wages and benefits, tariffs, interest rates, and equipment.

About the author

Phil Hall

Link copied

Published

Feb 27, 2019

Industry News

Newfi And Addy AI Announce Partnership

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending

Newfi and Addy AI today announced a collaboration focused on the continued evolution of artificial intelligence in mortgage lending.Newfi has built innovative lending products and a modern approach to the mortgage market. As the industry evolves, the company continues to exp...

Analysis and Data

Smaller Down Payments Give Buyers More Room, But Rates Limit The Savings

The typical down payment fell 9% from a year ago, while shifting market conditions are giving originators different affordability conversations across the country

Homebuyers are putting less money down than they were a year ago, another sign that increased inventory and greater negotiating room are changing the purchase market.The typical down payment fell to $27,100 in the second quarter of 2026, the lowest second-quarter dollar amou...

Oct

Denver, CO

More from

Industry News

CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Industry News

Sep 23, 2026

Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Industry News

Sep 23, 2026

Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

C-Suite Strategies

Sep 23, 2026

Fannie Changes How Rent From A Former Home Counts

Fannie now prohibits leases for departing residences and permits market-analysis tools instead of Form 1007, creating a key documentation difference from Freddie Mac

Regulation and Compliance

Sep 22, 2026

MPF Expands Eligibility For Manufactured And Renovation Loans

The Mortgage Partnership Finance Program has expanded MPF Traditional eligibility for affordable loans, manufactured homes, renovations, and lender-funded assistance

Industry News

Sep 22, 2026