The value of new design contracts fell for the 18th consecutive month in August, marking the longest decline in 15 years of data, according to the American Institute of Architects.

The organization maintains the monthly AIA/Deltek Architecture Billings Index. The AIA pointed to a potential bounce-back in the survey, which was released Wednesday.

“While business conditions remained soft at architecture firms nationally, there are signs that the downturn may be bottoming out,” said Kermit Baker, AIA’s chief economist, in a prepared statement. “Inquiries for new projects have increased four straight months, and billings both at firms with a multifamily or commercial/industrial specialization are beginning to stabilize.”

Activity was weakest in the West and strongest in the South, according to the index.

The AIA stated that architects continue to see “soft inquiries and a steady drop in newly signed design contracts, as clients remain hesitant to commit to new projects. With limited new work ahead, many firms are expected to face continued declines in billing in the months to come.”

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