Job Openings Short of December Prediction

Feb. 6, 2018

The Job Openings and Labor Turnover Survey (JOLTS) remained fairly constant to end 2017, according to the latest release from the Bureau of Labor Statistics (BLS). Job openings in December declined slightly from nearly six million to 5.8 million. While some sectors (information and the federal government) saw increases, many were hit hard, including construction, which had a drop of 52,000 job openings.

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Construction Pricing Continues Rise in 2018

Feb. 5, 2018

A new year has not halted the rise in construction costs. The IHS Markit PEG Engineering and Construction Cost Index increased 1.4 points to a reading of 56.3 in January. This is the 15th straight month the current pricing headline cost index showed upward pricing strength, a reading above 50.

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Construction Spending Increases for Fifth Straight Month

Feb. 2, 2018

A strong end to the 2017 construction spending cycle could pave the way for a positive 2018. Total construction spending increased 0.7% in December to a seasonally adjusted annual rate of $1.25 trillion. That’s 2.6% ahead of December 2016. December 2017 was the fifth straight month of construction spending increases.

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Pending Home Sales, Manufacturing Activity Booms in January

Feb. 1, 2018

One month into the new year, economic forecasts for pending home sales and manufacturing activity appear strong in the U.S., the latter of which is also gaining momentum across the globe.

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Construction Sector to Shrug Off Headwinds and Grow This Year and Next

Jan. 31, 2018

The construction sector has been suffering from labor shortages and growing costs for materials. But those headwinds won’t be sufficient to hamper the 4% rise in construction spending this year and next predicted by the American Institute of Architects (AIA) in its semi-annual Consensus Construction Forecast.

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Seattle, Las Vegas, San Francisco Show Highest Year-Over-Year Gains in Housing Prices

Jan. 30, 2018

Housing prices in the U.S. kept rising year-over-year in November 2017, according to the latest results from the S&P CoreLogic Case-Shiller Indices, which showed Seattle, Las Vegas and San Francisco having the highest gains among 20 cities.

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New Construction Starts End 2017 on High Note

Jan. 29, 2018

New construction starts turned 180 degrees in December, following a sharp decline in November, said Dodge Data & Analytics. New starts jumped 12% last month after a 12% decline the previous month. That puts new construction starts at a seasonally adjusted annual rate of more than $733 billion.

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New Single-Family Home Sales Decline Sharply

Jan. 26, 2018

While many people come out of hibernation during the holiday season to go shopping, that was not the case for the housing market. The end of 2017 was a slow time for new single-family home sales, according to the U.S. Census Bureau and Department of Housing and Urban Development.

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Architecture Firms Maintain Strong Billings in Final Quarter of 2017

Jan. 25, 2018

Architecture billings ended 2017 on a high note by maintaining strong numbers on the monthly index in the fourth quarter. According to the American Institute of Architects (AIA), the Architecture Billings Index (ABI) reached its highest score of the year at 55 in November, falling to 52.9 in December.

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Existing-Home Sales Slow in December

Jan. 24, 2018

Existing-home sales slowed as 2017 came to an end, according to the National Association of Realtors (NAR). December sales declined 3.6% to a seasonally adjusted annual rate of 5.57 million. However, 2017 saw an upward swing of 1.1%, which is the best year for sales in 11 years.

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