2022 was a bumpy year for people that work in the construction industry. There were a lot of things that that effected the way you ran your business. From labor shortages to high material costs, you prevailed. Are things going to get easier next year? How much are you going to have to change about the way your business is ran? How can you prepare for 2023?

We did some research and here’s a glance at what contractors have to look forward to in the new year. Plus, we tell you how Compass Auctions can help you have a profitable year.

What Does the Future of Construction Look Like?

More Green Building

Sustainability will be a major focus in 2023. Building companies who use locally sourced products and make less demolition waste will get more business.

Compass Auctions offers the equipment and materials you need to get hired for more jobs. Sign up for our email newsletter to get notified when we have new equipment and materials.

Higher Use of Rented Equipment

To stay competitive, more companies will choose to rent heavy equipment. They will be able to get recent model equipment at a fraction of the cost. This can put you at an advantage. You could add a new revenue stream to your business by renting equipment out to small businesses.

We auction heavy equipment every week. Our heavy equipment is well maintained and is sold in working condition* with low hours.

*Unless otherwise noted

Construction Costs Will Increase

Despite increasing construction revenues, building materials costs continue to cut into profits. By spending less on equipment, you’ll have more funds for essential building supplies.

Buying at auction can help you stay within your budget. You can bid as high as you want and then stop when you reach your spending limit. Make sure you check out the terms & conditions of each auction for our fee structure.

A Decrease In Commercial Construction

According to Construction Dive, non-residential construction starts will fall by 13% in 2023. This includes retail, office, warehouse, and hotel builds.

If business gets slow and you need some extra cash, let us help you sell your heavy equipment! Compass is always accepting new items for consignment.

Learn more about selling your heavy equipment with Compass Auctions here.

New Residential Construction Trends

Yahoo! reports the latest design and construction trends for residential builds. This includes stylish decor such as zoom-ready accent walls, herringbone patterns, natural wood, and nature-inspired color palettes. Homeowners also want prep pantries and friend’s entries to make their homes more spacious.

Every now and then we have specialized auctions featuring modern supplies to help you remodel your clients’ homes. Previously, we held tile auctions, furniture auctions, and HVAC equipment auctions. Visit the auction calendar to see our upcoming auctions.