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.
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
David Crowe/ Eye on Housing / July 16, 2014
Builder confidence in the market for newly-built single-family homes rose four points to a reading of 53 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). Any reading over 50 indicates that more builders view sales conditions as good than poor.
The July reading marks the first time since January that the index has been above a level of 50. Better employment data and economic growth for the second quarter have buoyed builder confidence as the summer progresses.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 / July 3, 2014
Construction employers added 6,000 workers to payrolls in June as the industry’s unemployment rate dropped to 8.2 percent, its lowest June level in six years, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned, however, that recent employment gains could be undermined when the federal government begins scaling back transportation investments in August.
“The construction industry continues to expand gradually and unevenly,” said Ken Simonson, the association’s chief economist.Read More