Housing starts jumped 18.6 percent in January to a seasonally adjusted annual rate of 1.23 million, says a delayed report from the U.S. Census Bureau and Department of Housing and Urban Development. The increase was higher than the single-digit rise expected by economists. Single-family starts soared 25.1 percent from December to a rate of 926,000. […]
The Dodge Momentum Index, a measure of the initial report for nonresidential construction projects in planning, fell 4.4 percent to 146.9 in February after rebounding in January. “Since November, the Momentum Index has re-established a sawtooth pattern that’s often been present in recent years,” said Dodge Data & Analytics. “It’s also become clear that the […]
Sales of new single-family houses rose 3.7 percent from November to December to a seasonally adjusted rate of 621,000, says the latest report by the U.S. Census Bureau and the Department of Housing and Urban Development. November’s data was revised downward to 599,000 homes sold from a previously reported rate of 657,000. Sales fell 2.4 […]
“Moderate and balanced growth” is evident across the residential, nonresidential and public construction sectors, although labor shortages continue to plague the industry, says an analysis of new government data by the Associated General Contractors of America Construction spending dipped 0.6 percent in December to a seasonally adjusted annual rate of $1.29 trillion, but increased 1.6 […]
U.S. light vehicle sales in February missed analysts’ forecasts, falling 2.8 percent year-over-year, reported Edmunds.com. Sales were estimated at 1.26 million last month with a seasonally adjusted annual rate of 16.6 million units, down from 17.01 million a year ago. Sales are forecast to remain strong in 2019, but slower than in recent record years. […]
Housing starts plummeted 11.2 percent in December to a more than two-year low, signaling continued slowing in the housing market. Single-family starts fell 6.7 percent from November, while multifamily starts plunged 22 percent. “Looking back, the December drop in housing production correlated with the peak increase in mortgage rates and corresponding decline in builder sentiment,” […]
The rate of price growth for homes in the United States continued its slowing trend in December. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index grew 4.7 percent year-over-year in December compared to a gain of 5.1 percent in November. The 20-City composite posted a 4.2 percent year-over-year gain compared to 4.6 percent […]
Existing home sales fell for the third month in January for the lowest seasonally adjusted annual rate since November 2015, according to the National Association of Realtors. Sales dipped 1.2 percent from December to a SAAR of 4.94 million homes last month. Compared to a year ago, sales were down 8.5 percent. “Existing home sales […]
The Dodge Momentum Index rose 4.7 percent in January to 157.7 from a revised reading of 150.6 in December. The bounce back reversed December’s decline and put it in line with the average index reading for the second half of 2018. Institutional projects gained traction in January driven by public funding for schools and transportation […]
Auto sales dipped in January as cold weather and the government shutdown chilled consumer demand. Automotive News estimated the seasonally adjusted annual sales rate at 16.9 million, down from 17.72 million in December and 17.22 million in January 2018. Light trucks and SUVs continued to carry sales, inching up 0.3 percent while sales of cars […]
Total heating and cooling equipment shipments in December rose 3.0 percent compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Friday. Excluding the 5.1 percent slip last September, total monthly equipment shipments on a year-over-year basis have increased every month since November 2016. Residential and commercial […]
Sales of new homes soared in November to a seasonally adjusted annual rate of 657,000, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development. Sales increased 16.9 percent from October, but dropped 7.7 percent from the November 2017 estimate. The median sales price for new homes was $302,400 […]
Home prices are continuing to rise but at a slower rate, reports S&P Dow Jones Indices. The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index was nearly flat in November, slipping 0.1 percent to a 5.2 percent annual gain for the month. Indices showed a steady drop in price gains throughout 2018. The 10-City […]
Existing-home sales ended the year with a steep decline, tumbling 6.4 percent in December from November to a seasonally adjusted annual rate of 4.99 million. The decline in sales was widespread across all four U.S. regions, according to the National Association of Realtors. On a year-over-year basis, existing home sales fell 10.3 percent. December sales […]
More than 800,000 car enthusiasts turned out for the North American International Auto Show this week in Detroit to admire the shiny new offerings for the 2019 model year. The steel industry is even more interested in what’s beneath those shiny exteriors. The Steel Market Development Institute displayed a degree of pride in congratulating the […]
Housing start data is on hiatus as the partial government shutdown continues. The National Association of Home Builders, however, estimates that single-family starts ended 2018 at 876,000 units, a 3 percent gain from the 2017 total of 848,900 in 2017. Builder confidence increased in January, rising two points to 58 on the NAHB/Wells Fargo Housing […]
Construction costs declined in December after a year of price spikes, but remained higher than a year ago, said the chief economist for the Associated General Contractors of America. “Steep declines in fuel prices in December offset mixed costs for other construction inputs, but most materials and services posted higher year-over-year increases than in 2017,” […]
Auto production in North America exhibited the normal slowdown in December. This is a new report using LMC Automotive as the data source for automotive assemblies in the U.S., Canada and Mexico. The breakdown of assemblies is “Personal” (cars for personal use) and “Commercial” (light vehicles rated at less than 6.0 metric tons gross vehicle […]
The Dodge Momentum Index, a monthly measure of the first report for nonresidential building projects in planning, fell 4.9 percent in December to an index reading of 151.9. The decline was due to a 7.6 percent drop in the commercial component of the index, while the institutional component fell only 0.7 percent. Nonresidential planning made […]
U.S. auto sales topped the 17 million mark for the fourth year in a row. Total sales for the year are estimated at 17.2 million to 17.3 million vehicles. “New-vehicle sales were surprisingly strong in 2018 despite late cycle headwinds from higher interest rates and more nearly-new competition in the used market,” said Jonathan Smoke, […]
Total heating and cooling equipment shipments in November rose 2.4 percent compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Friday. Aside from the 5.1 percent slip in September, total monthly equipment shipments on a year-over-year basis had increased every month since November 2016. Residential and […]
Rising housing affordability issues continue to hinder single-family construction even as total housing starts increased in November, reports the National Association of Home Builders. According to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department, overall housing starts rose 3.2 percent in November to a seasonally adjusted annual […]
The latest jobs report from the Department of Labor showed fewer jobs were added in November than expected. The U.S. economy added 155,000 jobs and the unemployment rate remained steady at 3.7 percent. Economists expected the report to come in at about 190,000 jobs for the month. The three-month average was 170,000. Construction employment increased […]
Total heating and cooling equipment shipments in October rose 10.2 percent compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Wednesday. Aside from the 5.1 percent slip in September, total monthly equipment shipments on a year-over-year basis had increased every month since October 2016. Residential and […]
Construction in the United States is experiencing strong growth led by nonresidential building and infrastructure expenditures, according to Steel Market Update’s analysis of the latest Commerce Department Construction Put in Place data. On Dec. 3, Commerce released CPIP expenditures data for October. The growth of total construction on a rolling 12-month basis year over year […]
Dropping sedans from its lineup proved to be a smart move for Fiat Chrysler. Sales in November jumped 17 percent as sales of the Ram pickup surged 42 percent and sales of SUV models gained 20 percent or more. “The market continues to abandon cars, with no end in sight,” said Karl Brauer, executive publisher […]
Sales of new single-family homes dropped 8.9 percent to a seasonally adjusted annual rate of 544,000 from an upwardly revised September estimate of 597,000 units, according to the latest data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. October sales were at the lowest sales pace since December 2016 […]
General Motors announced Thursday that it will stop production at five North American assembly plants by the end of 2019, alarming workers and suppliers. The closings include Detroit-Hamtramck, Warren Transmission and Lordstown Assembly in Ohio, Oshawa Assembly in Ontario and Baltimore Operations in Maryland. It will be the first closure for GM since 2010. The […]
Home price increases are slowing, according to the latest S&P CoreLogic Case-Shiller Index. The National Home Price NSA Index reported a 5.5 percent annual gain in September, down from 5.7 percent in August and the second consecutive decline. Sixteen of the 20 cities reported smaller annual price gains. Gains are now at the lowest level […]
After six months of decline, existing-home sales showed some improvement in October. Completed transactions for single-family homes, condos, townhomes and co-ops increased 1.4 percent from September to a seasonally adjusted annual rate of 5.22 million, according to data from the National Association of Realtors. The increase was tempered by a 5.1 percent drop in sales […]