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According to ENR, over a billion dollars worth of work (per state) is in various stages of planning and bidding, in Hawaii, Arizona, and Washington. Our contractor clientele in several states are seeing fewer bid opportunities, more bidders, and projects going for lower margins. Our followup training is scheduled for March.
The bid markets have slowed, but likely not as much as we’ll see in the months to come. We’ve been told by our friends in estimating departments that even uncomfortably low bids are finishing second or third. We’re offering our specialized Project Management / Scheduling training, SureTrak for Contractors in Honolulu next month.
Homebuyers are taking a break from bidding wars as home prices become increasingly unaffordable for a growing number of Americans. The nationwide bidding war rate fell below 50% in June for the first time since May 2020 as a result of inflated housing costs pushing a growing number of would-be buyers to the sidelines. a year earlier.
March finds the bid market slowing in many areas, but holding its own in a few areas. Job prices continue to plummet as marginal contracting firms fight for survival. However some of our clientele reports that it’s still possible to bid a job with some profit, and actually get awarded the job.
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