Commercial real estate construction declines

 

The RLB Crane Index for North America report revealed a decline in commercial construction and an increase in residential construction.  The report tracks the number of tower cranes across 14 U.S. and Canadian metros.  According to the report, commercial cranes were down 20%, and residential and mixed-use projects accounted for 73% of the overall crane count.  Despite the uncertain market conditions, the report predicts that the number of cranes used for residential projects will remain high this year.  In Denver, the total number of cranes used increased from 32 to 36, of which 18 are used for residential projects.  The overall crane count increased by 7.04% QoQ in the first three months of 2023.