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.
July Architecture Billings Index Reports Sustained Demand for Design Services
Caroline Massie / ARCHITECT / August 19, 2015
The Architecture Billings Index (ABI), released by the AIA today, indicates that July was another strong month for the design industry. July’s ABI score was 54.7, down a point from June, which received the highest mark in nearly eight years. The project inquiries index increased from 63.4 in June to 63.7 last month, continuing a trend of incremental gains. Additionally, the design contracts index rose two points from June to July, coming in at 54.5 in today’s report. Scores above 50 indicate growth in billings, whereas those below 50 mean a contraction. “On top of what has been a flurryRead More
Key Takeaways from the 2015 AIA Compensation Survey
Caroline Massie / ARCHITECT / August 21, 2015
Average compensation for architectural staff positions is still recovering from the Great Recession, but is nevertheless on the rise—and expected to continue on an upward trajectory, according to the 2015 AIA Compensation Survey released last week. The report, which includes salary data for 39 architecture-firm positions in 27 states, 27 metro areas, and 15 cities, found that average compensation for staff positions rose 3.5 percent since early 2013 (or 1.75 percent per year). This growth is up from the Great Recession, during which annual compensation increased an averageRead More
Caroline Massie / ARCHITECT / August 12, 2015
While compensation gains since 2013 are modest, they have outpaced low inflation levels in the U.S., the biannual report reveals.
Yesterday, the AIA released its biannual Compensation Survey, which provides salary data at U.S. architecture firms. The report reveals that average compensation for staff positions rose 3.5 percent since early 2013 (or 1.75 percent per year), with increases for the major architectural staff categories, which include senior design and project management staff; architects and designers; and interns.
The AIA reports that the compensation gains are modest,Read More
Robert Dietz / NAHB / August 12, 2015
The NAHB’s Robert Dietz reports on the latest Bureau of Labor Statistics data that shows construction job openings fell in June, decreasing from 163,000 in May to 143,000 in June. While the number of unfilled jobs in the sector remains high, the open position rate declined to 2.3%.
The June construction sector hiring rate, as measured on a three-month moving average basis, ticked up to 5.2% after a period of declines that began in March. The quits rate for construction declined slightly to 1.7% in June.
The total employment for the building and remodeling industry currently sits
Heather Taylor / NAHB / 8/4/2015
The NAHB’s Heather Taylor dives into data from HUD’s American Housing Survey which provides insight into buyer preferences when selecting a home.
The top reasons for choosing a home were size, cited by 76% of all buyers, followed by room layout/design (74%) and a two-way tie between price and neighborhood (72%). But digging deeper, those priorities vary among buyers looking for new homes compared to those shopping for existing homes:
For buyers of new homes, room layout/design, neighborhood, exterior appearance and construction quality tended to be even more important
BUILDER / August 4, 2015
The nesting habits of millennials are a source of much conjecture in the housing industry. BUILDER pulled together the nine top-line takeaways from the Urban Land Institute’s recent report “Gen Y and Housing: What They Want and Where They Want It.”
Read more on BUILDER.com.
David Crowe / BUILDER / July 21, 2015
The new-home sales market is greatly dependent on the existing-home sales market. Currently, at least 80% of new homes are purchased by buyers who sold an existing home. In better times, when the first-time buyer is more active, repeat buyers’ share could sink to 65% to 70%—still a substantial portion of sales.
The modest housing recovery has slowed existing homeowners’ normal turnover; or existing homeowners’ reluctance has slowed the housing recovery. The cause and effect are difficult to separate although several contributing factors are identifiable.