News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
AGC of America / August 27, 2014
Construction employment expanded in 223 metro areas, declined in 72 and was stagnant in 44 between July 2013 and July 2014, according to a new analysis of federal employment data released today by the Associated General Contractors of America. As employment grows, 25 percent of firms report labor shortages are forcing them to turn down work according to a new survey conducted by SmartBrief, an industry leader in curated business news and custom content, in partnership with the association.
“Many construction firms looking to expand their payrolls are finding a surprisingly tightRead More
David Crowe / Eye on Housing / August 20, 2014
After a disappointing June report, housing starts rebounded to an annual rate of 1.093 million for a 15.7% increase over the upwardly revised June level. The substantial June dip, caused by a fall in single-family construction in the South, was eliminated as single-family construction rose 8.3% with increases in three of the four regions. Midwest single-family starts were down 6.8% to a 109,000 rate, but remain at about the same level as the second quarter average.
The Census and HUD data also indicated that multifamily starts increased to a 437,000 annual rate, the highest since FebruaryRead More
AGC of America / August 18, 2014
Construction firms added jobs in 39 states from July 2013 to July 2014 and in 34 states from June to July, according to an analysis today of Labor Department data by the Associated General Contractors of America. Association officials said the employment gains are good news, but that the pipeline of skilled craft workers, supervisors and other employees appears to be emptying rapidly.
“The overall trend in construction employment has been very consistent in 2014, with more than three-fourths of states adding jobs each month on a year-over-year basis,” said Ken Simonson, theRead More
Paul Emrath / Eye On Housing / August 14, 2014
Housing affordability dipped slightly in the second quarter of 2014 as several markets saw a firming of home prices, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI). Nationwide, the second quarter HOI was 62.6—i.e., 62.6 percent of new and existing homes sold during the quarter were affordable to a family earning the U.S. median income of $63,900—down about three percentage points from the first quarter reading of 65.5.
The latest readings reflect a slow but steady march toward historically normal appreciation and interest rates, producing an HOIRead More
Alex Carrick / Reed Construction Data / August 13, 2014
Below are six graphs recording 12-month moving averages of Reed’s non-residential construction starts.
When the value of the current month is higher than for the same month a year ago, the line will turn up; when lower, it will dip.
String a couple of similar positive or negative directional changes together over several months and one has a trend.
And that’s what the graphs are designed to do, show improving or deteriorating trends in a dozen major and more granular categories of construction work.Read More