May 16, 2018
Tight supply and trading tariffs are causing softwood lumber prices to climb, becoming one of the costlier raw materials for the U.S. construction sector. Despite the recorded price decline from March to April, as seen in the National Association of Home Builders’ (NAHB) Producer Price Index (PPI) last week, many economists are finding a surge in softwood lumber prices month-over-month, including analysts from Bloomberg.
May 11, 2018
While some in the business credit world are staying in touch with the latest and greatest technological advancements for data collection, those in the construction industry still prefer the good old-fashioned method of manual systems. However, a new study by software company Trackvia suggests that sticking with manual data collection is both risky and costly to companies.
May 10, 2018
Building material prices for residential construction rose once again in April, marking the fourth consecutive month of increases to the U.S. Bureau of Labor Statistics’ Producer Price Index (PPI). Since January 2018, the PPI has increased nearly 4%, most recently climbing 0.9% in April.
May 9, 2018
Construction employment maintained its positive growth rate of 3.7% over the past year after pushing forward in April with an addition of 17,000 net jobs. Associated Builders and Contractors, Inc., (ABC) released its analysis of the latest data from the U.S. Bureau of Labor Statistics, which showed a redeeming increase last month, following a steep decline in March.
May 8, 2018
Just as the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) was showing substantial improvement, builder confidence in the single-family 55+ housing market took a five-point dive during the first quarter of 2018. The latest HMI was recorded at 66, falling from its record-high 71 at the conclusion of 2017.
May 2, 2018
Stormy weather and job losses in the construction sector are believed to have contributed to the March decline in nonresidential construction spending, according to the latest release from Associated Builders and Contractors, Inc. (ABC). Following February’s modest gain, nonresidential construction spending declined by 0.3% in March but increased 2.5% year-over-year (YOY).
April 27, 2018
Construction costs continue to reach new highs in the latest IHS Markit PEG Engineering and Construction Cost Index. The index increased 4.1 points to a reading of 61.8 in April, marking the 18th straight month of increased pricing (reading over 50).
April 24, 2018
Limited supply and rising prices are believed to have contributed to the latest existing-home sales numbers for March, as the National Association of Realtors (NAR) reported a year-over-year (YoY) decline despite a modest increase over February.