Electrical Marketplace Key Figures - Jan. 23, 2026 Update

Single-family permits see slight dip in October

Building permits in October were at a seasonally adjusted annual rate of 1,412,000, -0.2% below the revised September rate of 1,415,000 and -1.1% below the Oct. 2024 rate of 1,428,000. Single-family authorizations in October were at a rate of 876,000, -0.5% below the revised September figure of 880,000. Authorizations of units in buildings with five units or more were at a rate of 481,000 in October.
October housing completions were at 1,386,000, +1.1% above the revised September estimate of 1,371,000, but -15.3% below the Oct. 2024 rate of 1,636,000.

AIA Billings Index ends 2025 on a sour note

The AIA/Deltek Architecture Billings Index®(ABI) closed out 2025 in negative territory with a December score of 48.5 points, up from 45.3 points in November. Any score below 50 points indicates a billings decline, although this month’s score indicates that fewer firms reported a decline in billings in December than in November.
Architecture firm billings declined throughout 2025 and most months since Oct. 2022, with only three exceptions. While fewer firms reported a decrease in December, declining design contract values suggest a near-term rebound is unlikely. However, firm backlogs remain strong, averaging 6.3 months. Large firms with annual billings of $5 million or more report backlogs of 8.6 months, while institutional specialists average 8.2 months. Despite a decline in project inquiries and the value of newly signed design contracts, work pipelines have remained stable in recent years.
“Despite the ongoing decline in billings at most architecture firms, there are a few signs of potential improvement on the horizon. The number of inquiries into future project work continues to grow, and Midwest firms saw billings increase for the fourth consecutive month in December,” said AIA Chief Economist, Kermit Baker, in the press release. “In general, however, overall conditions remain weak across all specializations. Multi-family residential firms faced the steepest declines, while institutional firms experienced a slightly slower pace of decline compared to earlier in the year.”