A new report today from the American Institute of Architects (AIA) reveals the immediate impact of the COVID-19 pandemic on architecture firms in the U.S.
A recent AIA survey found that 50% of architecture firms reported fewer new design projects for March—as of the March 23 survey date—as compared to their expectations entering the month. In terms of work on active projects, the overwhelming majority of architecture firms (83%) are anticipating a decline in revenue for March relative to their expectations heading into the month, with over a third of firms estimating that their revenue will be at least 10% below expectations. This situation is anticipated to worsen in April, with 94% of firms expecting revenue declines, and over half of firms (57%) anticipating that the revenue falloff will exceed 10%.
“Like most other businesses, U.S. architecture firms are heading into uncharted waters regarding what the economy holds in store for them as the COVID-19 pandemic plays out globally.,” said AIA Chief Economist, Kermit Baker, Hon. AIA, PhD. “Different businesses are feeling the impact of the slowdown differently.”
Beyond billing activity, just under half of firms (48%) indicated that all, or almost all, of their staff are now working remotely, while 31% reported that some of their staff are working remotely. Few firms reported a major impact to their staff due to family/personal reasons, but 15% of firms said that at least some of their staff are currently unable to work at all.
Visit AIA’s website to access the full report.
Related Stories
Coronavirus | Aug 27, 2020
8 must reads for the AEC industry today: August 27, 2020
Extended-stay hotels are the lodging sector's safest bet, and industrial real estate faces short-term decline.
Coronavirus | Aug 25, 2020
Co-living firm Common issues RFP for the future home office and work hub
Common, the U.S.’s largest co-living company, recently released an RFP for a “Remote Work Hub” to blend work and life from the ground up.
Coronavirus | Aug 25, 2020
Video: 5 building sectors to watch amid COVID-19
RCLCO's Brad Hunter reveals the winners and non-winners of the U.S. real estate market during the coronavirus pandemic.
Coronavirus | Aug 25, 2020
6 must reads for the AEC industry today: August 26, 2020
Big-box retailers’ profits surge, and rent payment tracker finds 90% of apartment households paying rent.
Coronavirus | Aug 25, 2020
7 must reads for the AEC industry today: August 25, 2020
Medical office buildings get a boost by demand and capital, and why the COVID-19 pandemic is increasing the need for telemedicine.
University Buildings | Aug 20, 2020
Student housing in the COVID-19 era
Student housing remains a vital part of the student and campus experience.
Coronavirus | Aug 17, 2020
Covid-19 and campus life: Where do we go from here?
Campus communities include international, intergenerational, and varied health-risk populations.
Coronavirus | Aug 10, 2020
Reimagining multifamily spaces in the COVID era
Multifamily developments pose unique challenges and opportunities.
Coronavirus | Aug 3, 2020
Exploring the airborne transmission of the coronavirus and strategies for mitigating risk
Health authorities say it’s important to understand the dangers of microdroplets. How might indoor ventilation need to change?
