Articles
Single-family & Multifamily production grows
Single-family and multifamily housing production accelerated in November, due to strong demand for new construction. Overall housing starts increased 11.8 percent to a seasonally adjusted annual rate of 1.68 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Read More
Construction Starts Slid 14% in November
Total construction starts fell 14% in November to a seasonally adjusted annual rate of $867.8 billion, according to Dodge Construction Network. Nonbuilding and nonresidential building starts bore the brunt of the decline, falling 30% and 21%, respectively, after seeing sharp increases in October as three large projects broke ground. Residential starts gained a modest 3%. Without October’s large projects, total construction starts in November would have increased by 5%. Read More
Housing Starts Jumped 11.8% in November
Privately‐owned housing starts in November were at a seasonally adjusted annual rate of 1,679,000, 11.8% above the revised October estimate of 1,502,000 and 8.3% above the November 2020 rate of 1,551,000, according to the U.S. Census Bureau. Single‐family housing starts in November were at a rate of 1,173,000; this is 11.3% above the revised October figure of 1,054,000. The November rate for units in buildings with five units or more was 491,000. Read More
ABI Score Dipped to 51.0 in November but Remained Positive
“The period of elevated billing scores nationally, and across the major regions and construction sectors seems to be winding down for this cycle,” said AIA chief economist, Kermit Baker, Hon. AIA, PhD. “Ongoing external challenges like labor shortages, supply chain disruptions, spiking inflation, and prospects for rising interest rates will likely continue to slow the growth in firm billings in the coming months.” Read More
Builder Sentiment Rose 1 Point to 84 in December
“The most pressing issue for the housing sector remains lack of inventory,” said NAHB chief economist Robert Dietz. “Building has increased but the industry faces constraints, namely cost/availability of materials, labor and lots. And while 2021 single-family starts are expected to end the year 24% higher than the pre-Covid 2019 level, we expect higher interest rates in 2022 will put a damper on housing affordability.” Read More
Construction job openings surge to record high
The count of open construction jobs increased to 410,000 unfilled positions in October, the highest measure in the history of the Job Openings and Labor Turnover Survey data from the Bureau of Labor Statistics data series (going back to late 2000). Read More
Very Peri Named Pantone 2022 Color of the Year
Pantone has named Pantone 17-3938 Very Peri as its 2022 Color of the Year. “The Pantone Color of the Year reflects what is taking place in our global culture, expressing what people are looking for that color can hope to answer.” added Laurie Pressman, vice president of the Pantone Color Institute. Read More
Suburban Homebuilding Continues, Higher Density Areas Also Active
The suburban shift for single-family homebuilding, which was precipitated in large part by the onset of the Covid-19 pandemic last year continues. But new data reveals that higher density markets are making a comeback as well, according to the third quarter edition of the NAHB Home Building Geography Index (HBGI). Read More
NAHB releases third quarter findings
The suburban shift for single-family home buying precipitated in large part by the onset of the COVID-19 pandemic last year continues, but new data reveals that higher density markets are making a comeback as well. In contrast, the market share for multifamily construction shows a significant increase in smaller cities and rural areas while the pace of new permits is easing in larger metropolitan markets. Read More