Existing home sales fell in September after a flat August with sales declining in all regions. September sales were a clear shift in the housing market, said the National Association of Realtors, with homes taking slightly longer to sell. Existing home sales declined 3.4 percent from August to a seasonally adjusted annual rate of 5.15 […]
Housing starts dropped 5.3 percent in September to a seasonally adjusted annual rate of 1,201,000, falling more than expected by economists. Multi-family housing led the decline, falling 12.9 percent, compared to 0.9 percent for single-family homes. Compared to a year ago, starts were 6.4 percent higher, said the Census Bureau and HUD. “Slight gains off […]
Heating and cooling equipment shipments in August were up 3.6 percent compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Wednesday. On a year-over-year basis, total monthly equipment shipments have increased every month since October 2016. Residential and commercial storage water heater shipments declined 7.9 percent […]
Planning activity for construction of nonresidential buildings declined in September, according to the latest Dodge Momentum Index. The Index slid 2.6 percent to a reading of 159.5. Both commercial and institutional planning projects were lower in September, falling 4.3 percent and 0.1 percent, respectively. The Index has dropped for two consecutive months, but on a […]
Construction in the United States is experiencing strong growth led by infrastructure expenditures, according to Steel Market Update’s latest analysis of Commerce Department data. On Oct. 1, Commerce released the construction put in place (CPIP) expenditures data for August. The growth of total construction on a rolling 12-month basis year over year increased from 2.1 […]
U.S. automotive sales fell 5.5 percent year-over-year in September. Depending on one’s perspective, they were either good, at a seasonally adjusted annual rate 17.54 million, or a portent of worse times to come. General Motors, which no longer reports monthly sales, said third-quarter sales plunged 11 percent and estimates put September sales down a dismal […]
Sales of new homes increased last month despite affordability issues related to building costs. Sales of new single-family homes rose 3.5 percent in August compared to July and were 12.7 percent higher than in August 2017. The seasonally adjusted annual rate was estimated at 629,000. Sales were strongest in the Northeast, soaring 47.8 percent from […]
Home prices grew at a slower rate in July, according to the latest S&P CoreLogic Case-Shiller Index. The National Home Price NSA Index posted an annual gain of 6.0 percent, down from 6.2 percent in June. The 20-City Composite was at an 11-month low, posting a 5.9 percent year-over-year increase compared to 6.4 percent in […]
Housing starts rebounded in August after a lackluster gain in July. Data from HUD and Commerce show new residential housing starts jumped 9.2 percent to a seasonally adjusted annual rate of 1,282,000 from the upwardly revised July SAAR of 1,174,000. Starts were 9.4 percent higher than August 2017. The increase took economists by surprise and […]
Existing-home sales were flat in August, halting a four-month decline, said the National Association of Realtors. Sales of single-family homes, townhomes, condos and co-ops were at a seasonally adjusted annual rate of 5.34 million last month, down 1.5 percent from a year ago. “Strong gains in the Northeast and a moderate uptick in the Midwest […]
Construction costs are escalating due to labor costs and tariffs on critical materials. Although declining 0.8 percent from July to August, prices for construction goods such as diesel fuel, steel, aluminum, asphalt and gypsum products have risen 6.2 percent since the beginning of the year, said the Associated General Contractors of America in a recent […]
The Dodge Momentum Index fell 2.9 percent in August to a reading of 164.1. The Momentum index is a monthly measure of the initial report for nonresidential building projects in planning. Commercial construction led the decrease, falling by 6.1 percent after rising 25 percent in the first seven months of 2018. “While commercial planning did fall […]
Heating and cooling equipment shipments were up 6.5 percent in July compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Friday. Residential and commercial storage water heater shipments were up 3.7 percent year over year to a combined 646,975 units; 631,474 units were shipped for residential […]
Construction is on a roll with expenditures in July at an all-time high, according to Steel Market Update’s latest analysis of Commerce Department data. In the Sept. 4 data release which reported expenditures through July, the growth of total construction on a rolling 12-month basis year over year increased from 2.1 percent in January to […]
Automotive sales remained healthy in August with most automotive manufacturers reporting at least moderate sales growth year-over-year. FCA US led sales with an increase of 10 percent for August. Ford sales were up 4.1 percent and Hyundai 6.0 percent. Toyota sales dropped 2 percent. Sales for German automaker Volkswagen inched up 0.7 percent while Mercedes-Benz […]
Labor shortages are highlighted in a new survey released by the Associated General Contractors of America and Autodesk. In a survey of more than 25,000 respondents, 80 percent of firms report they cannot find enough hourly craft workers to fill the positions that make up the bulk of the construction industry. The problem is widespread […]
Sales of both new and existing homes declined in July as higher prices impacted affordability for buyers. Existing home sales fell for the fourth consecutive month in July, dipping 0.7 percent to a seasonally adjusted annual rate of 5.34 million. Sales are 1.5 percent below a year ago, said the National Association of Realtors. Sales […]
Housing data was mostly flat in July with housing starts up just 0.9 percent to a seasonally adjusted annual rate of 1,168,000 units. Data from HUD and Commerce show single-family housing starts increasing 0.9 percent and multifamily housing 3.1 percent. Regionally, housing starts fared better in the Midwest and South, increasing 11.6 percent and 10.4 […]
What would ultimately be best for the environment: strict fuel efficiency standards that will dramatically reduce the tailpipe emissions from new vehicles or more achievable standards that will add less cost to each vehicle and allow more drivers to upgrade and get older gas guzzlers off the road? Over the strong objections of environmental groups […]
Emission standards set by the Obama administration in 2012 are now on the chopping block by the Trump administration. Last week the Environmental Protection Agency and Department of Transportation submitted a proposal to roll-back emission standards that are set to take effect after 2020 and freeze them at the pre-2020 levels. “We are delivering on […]
Caterpillar says it will raise prices due to U.S. tariff measures despite expecting a stronger profit outlook for the year. The major exporter of construction, mining and energy-related equipment estimates recently imposed tariffs will cost the company $100 million to $200 million in the second half of 2018—about 3 percent of its full-year profits. Strong […]
Nonresidential construction projects continued to enter the pipeline in July, according to Dodge Data & Analytics. The Dodge Momentum Index, a measure of nonresidential building projects in planning, rose 1.4 percent in July to a reading of 169.8 from a revised June reading of 167.3 Commercial project planning led the rise with a gain of […]
Heating and cooling equipment shipments were up 7.8 percent in June compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) on Friday. This is the highest total equipment shipment level in the institute’s 10+ year history at 2.27 million units shipped, topping the previous record of 2.10 […]
Construction is on a roll with expenditures in June at an all-time high, according to Steel Market Update’s latest analysis of Commerce Department data. In the Aug. 1 data release, which reported expenditures through June, the growth of total construction on a rolling 12-month basis year over year increased from 2.1 percent in January to […]
Most automakers reported a drop in U.S. vehicle sales in July and analysts are predicting more pain to come in the second half of the year. “Every year there is a clunker of a month,” Mike Jackson, chief executive of AutoNation Inc., told Reuters. “I think July will be that month from a retail point […]
Home price gains are starting to lose momentum, but an inventory shortage kept prices strong in May despite slower sales. The S&P CoreLogic Case-Shiller National Home Price NSA Index rose 6.4 percent in May, matching the year-over-year-increase reported in April. The 20-city composite posted a 6.5 percent gain year-over-year, compared to 6.7 percent in April. […]
Sales of new single-family houses slipped 5.3 percent from May to June to a seasonally adjusted annual rate of 631,000, according to the latest report by the U.S. Census Bureau and Department of Housing and Urban Development. The decline was accompanied by a downwardly revised estimate of 666,000 for May. The June SAAR was at […]
A housing shortage is impacting existing home sales and pushing prices to a new high, reported the National Association of Realtors. The June data from NAR shows existing home sales decreased 0.6 percent in June, falling for the third month in a row and the fifth time this year. Sales were at a seasonally adjusted […]
The Associated General Contractors of America are supportive of long-term legislation proposed by the chairman of the House Transportation and Infrastructure Committee to address the nation’s aging infrastructure problem. The draft proposal includes a user-fee approach to fund infrastructure repair. AGC CEO Stephen Sandherr said the association is prepared to work with the chairman, leadership […]
Housing starts in June dropped 12.3 percent from May to a seasonally adjusted annual rate of 1,273,000. June starts were 4.2 percent below the level in June 2017. A plunge in multi-family housing starts led the decline, falling 20.2 percent to a rate of 304,000 for buildings with five units or more. Single-family starts were […]