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.
Robert Dietz / Eye on Housing / July 25, 2014
The share of new single-family home sales purchased with cash rose during the second quarter of 2014, reaching 8.4% of sales.
The onset of the housing crisis in 2007 led to a decline in the share of new home sales due to conventional mortgage financing and increases in the shares due to mortgages backed by the FHA and the Department of Veteran’s Affairs (VA), as well as cash purchases.
The second quarter data from the Census Bureau’s Quarterly Sales by Price and Financing indicates that count of cash-based new home sales rose to 10,000 for the quarter, matching a cycle high. During theRead More
AGC of America / July 18, 2014
Florida Has Largest 12-Month Percent and Total Gains, New Jersey Has Biggest Annual Declines; South Dakota and Florida Top Monthly Rankings, Alaska and California Shed Most Jobs in June
Construction firms added jobs in 38 states and the District of Columbia over the past 12 months, but they reduced headcount in 27 states between May and June, according to an analysis today of Labor Department data by the Associated General Contractors of America. Association officials said the employment gains help, but that construction employment remains below peak levels in every location except NorthRead More
Associated Builders and Contractors, Inc / July 16, 2014
Overall construction materials prices increased by 0.1 percent in June and are up 1.9 percent year over year, according to the July 16 producer price index release by the U.S. Department of Labor. Nonresidential construction materials prices also expanded 0.1 percent for the month and are 1.4 percent higher than one year ago.
“Prices for inputs to construction industries have now risen in five of the year’s first six months,” said Associated Builders and Contractors Chief Economist Anirban Basu. “This marks a significant departure from the previous year’s remarkable stability.Read More
Associated Builders and Contractors, Inc / July 3, 2014
The U.S. construction industry added 6,000 jobs in June, according to the Bureau of Labor Statistics (BLS) July 3 report; however, nonresidential construction added only 700 of those jobs and the heavy and civil engineering sector lost 700 jobs.
“Given the generally upbeat tenor of today’s employment report, nonresidential construction’s performance is somewhat disappointing; however, it is worth noting that nonresidential construction tends to lag that of the overall economy,” said Associated Builders and Contractors Chief Economist Anirban Basu. “Today’s jobs numberRead More
AGC of America / June 30, 2014
Construction employment expanded in 218 metro areas, declined in 72 and was stagnant in 49 between May 2013 and May 2014, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Association officials warned that job losses could spread to more metros unless policy makers in Washington quickly agree on providing new funding for the federal highway program.
“Construction employment continues to rise in about two-thirds of the nation’s metro areas,” said Ken Simonson, the association’s chief economist.Read More