"The single-family housing market hit yet another record in 1999 with put-in-place construction totaling $212.7 billion. This marked the fourth consecutive year of substantial gains¿ FMI predicts that this growth will flatten out at a high level through 2000 and 2001. Accordingly, forecasts indicate that single family construction will reach $222.0 billion in 2000 and $224.0 billion in 2001, gains of 4% and 1%, respectively."
Office construction grew 14% in 1999 to $34.3 billion. According to FMI, "Although it's hard to make a 14%, $4.2 billion increase look bad, 1999 posted the poorest showing of the past three years. After seven consecutive years of growth, this star performer may be fading a bit. Yet although the pace may relax, all signs point to several more years of solid growth."