August Housing Starts Soar Thanks to Multifamily Gains

August housing starts saw the largest gain in 12 years, exceeding experts' predictions in July with a seasonally adjusted annual rate of 1.36 million units. Rising more than 12%, the surge in housing starts was attributed to a signification increase in the multifamily housing sector, where the National Association of Home Builders (NAHB) said start...
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New Home Sales See Sharp Decline

New U.S. single-family home sales are on the decline as is the median home price. The latest release from the Census Bureau and the Department of Housing and Urban Development shows sales of new single-family homes slipped nearly 13% in July from June's revised rate. However, sales are up more than 4% from July 2018. The median sales price dipped j...
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July Construction Input Prices Improve Yet Remain Worrisome

Construction input prices experienced a modest comeback in July, but results have left some builders unsettled with the year-over-year (YOY) findings. Despite the 0.8% expansion month-over-month (MoM), input prices fell more than half a percent YOY in part by notable declines in natural gas, unprocessed energy materials, crude petroleum and softwoo...
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Dodge Momentum Index Declines in July

The Dodge Momentum Index continues to decline after peaking in July 2018. The Index, released earlier this week by Dodge Data & Analytics, slipped 4.6% in July from the revised June reading. The index measures the first report of nonresidential building projects in the planning phase, resulting in an indication of nonresidential spending for a ...
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Construction Spending Declines in June

Construction spending is on the decline in the U.S. Construction spending dropped 1.3% in June to a seasonally adjusted annual rate of $1.287 trillion, according to a release from the Census Bureau earlier this week. June's data is also 2.1% below the June 2018 estimate. A decrease in public works projects and wet weather are the likely culprits be...
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Construction Contractors’ Confidence Holds Steady in May

Fresh into the dog days of summer, the U.S. construction industry is assessing contractors' confidence levels for nonresidential construction. According to Associated Builders and Contractors' (ABC) latest Construction Confidence Index (CCI) results in May, contractors are optimistic about sales expectations in the near future, yet show some uncert...
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Monthly, Yearly Construction Input Prices Stumble in June

Monthly fluctuations are common, which is why construction economists weren't surprised to see a decrease in June's construction input prices. What experts didn't expect was the same decrease in year-over-year readings for the first time in nearly three years. On July 12, Associated Builders and Contractors (ABC) reported a 1.3% decrease in month-o...
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Construction Spending Saw a Decline in May

Construction spending fell during the month of May, according to a recent report by Wells Fargo. Construction expenditures dropped by 0.8%, and residential spending is still much weaker compared to public spending. Residential spending fell 0.6%, and nonresidential spending fell by almost 1%⁠—the first time nonresidential has dipped in about a year...
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Existing Home Sales Increase During Month of May

During the month of May, U.S. existing home sales increased by 2.5% compared to last month, reaching a seasonally adjusted annual rate of 5.34 million units, according to a recent article by Reuters. Lower interest rates for mortgages helped give the data a boost this month. Reuters speculated the existing home sale rate would reach 5.25 million un...
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Construction Jobs Maintain Monthly Growth but Future Uncertain

Jobs in the construction industry rose minimally in May but garnered a 3% year-over-year (YOY) increase, according to Associated Builders and Contractors (ABC). In its assessment of the latest labor statistics data, ABC reported an additional 4,000 net new construction jobs were added in May, while the overall number of jobs increased to 215,000 co...
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