Construction volume in Orlando is down for the year in every sector.
However, the market has been steady this quarter and projects are seeing between three and five bids per subcontractor. The Orlando area is not seeing any major trade shortages; this, combined with the drop in construction volume this year, should keep escalation in check. There has been a shortage of glazing, with lengthy backorders even before the outbreak of COVID-19, though it is expected to ease.
The local economy is coming back online with bars, theaters, and some other entertainment facilities reopening in the beginning of June. Resurging economic activity should help buoy the construction market and lead to the continuation of projects that have been stalled due to the pandemic. Construction volume in the coming years is expected to return to a pattern of steady growth, with the residential, healthcare, and infrastructure sectors in particular expected to see large increases in 2021.