Because many banks are still unwilling to loan due to issues in the capital markets, more developers and builders are turning to lending experts who can get find capital sources.
San Francisco, CA (PRWEB) October 25, 2012 - The latest data from the U.S. Architecture Billings Index (ABI) has been released and it points to good news for construction businesses and real estate developers. In August, this leading construction indicator rose by 1.5 points, indicating a possible recovery in the U.S. construction sector. This report is good news for every business tied to the construction industry, from the architects that plan the projects, to builders who oversee the construction, to the carpet, door and window, flooring and other industries who provide materials for construction.
The ABI now stands at 50.2, which is the best level over the past 5 months. The American Institute of Architects (AIA) has stated that any reading over 50 indicates good demand for architect services. While this is certainly good news for the country’s architects, it is also good news for the construction industry, since high ABI readings often precede strong growth in the construction sector over the following 12 months.
Concerns have been raised regarding the ability of the architecture industry to meet the new demand being indicated. Many architects became unemployed during the downturn, and some wonder if those remaining in the industry will be able to meet increasing demand from new construction projects. Fortunately, a separate study found that the demands for new projects are being met. This means growth will continue and strengthen without being derailed by constraints in the design phase of construction.
Looking more closely at industry sectors, multi-family residential buildings are a clear leader, followed by commercial and institutional building projects. The data is an encouraging indicator for economic growth.
Those best positioned to take advantage in this upswing in construction will be the builders and developers who have access to the necessary capital to fund their projects. Because banks are still unwilling to loan due to issues in the capital markets, more developers and builders are turning to lending experts who can get find capital sources. Sunovis Financial is just such a lending organization. The company has an experienced team of banking and real estate professionals.
About Sunovis Financial
Sunovis Financial's motto is to rebuild the U.S. economy, one business and one loan at a time. The team of professionals find access to capital for borrowers, and the company specializes in SBA loans as well.