Today's Construction Economy
Q3 2023

Are we more likely in for a soft landing versus a recession?

By Tom Sanders, CCEA, CBA

Chief Economist, MOCA Systems, Inc.

The much-anticipated recession has not arrived, and an increasing number feel it won't - we are more likely to be in for a soft landing. While construction labor and materials are still relatively expensive, inflation is easing, and selling price escalation should recover to close to the 3% historic average. That inflation has added to sales but masked the fact that volume is sliding. Our focus continues to be on the primary drivers of selling price to property owners.

Download our Q3 Construction Economy Report and get all the details from MOCA Chief Economist Tom Sanders.

Meet the author

Tom Sanders, CCEA, CBA
Lead Economist at MOCA Systems

Tom Sanders is the lead economist for MOCA Systems, Inc., a leading owner’s representative firm providing program and project management services. Tom provides independent market analyses for military construction projects. He is a retired USAF Reserve Colonel with 30 years of service.

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