Today’s Construction Economy Report – Q3 2023

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

By Tom Sanders

Chief Economist

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.

Download the report

Meet the author

Tom Sanders

Chief Economist

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.