Articles Tagged with ''Construction''

Construction spending retreats 0.8% in May

Residential construction spending slides 0.7% from the previous month
Construction spending fell 0.8% in May to a seasonally adjusted annual rate of $1.29 trillion, the first drop in six months, the Census Bureau said. That’s down 2.3% from the May 2018 estimate of $1.32 billion. Outlays for private residential construction fell for the fifth straight month.
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Harvard: There's a housing shortage, and it's eroding affordability

Tight supply is putting the squeeze on prices
There’s a shortage of homes on the market, and it’s driving up house prices and rents, especially for average earners living in high-cost markets. This is the big takeaway from Harvard’s massive study from the Joint Center for Housing Studies released recently on the state of the nation’s housing market. The gist is that the housing market is constrained by production that has been below historical levels for more than a decade.
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Experts: Housing starts signal trouble ahead

Inventory and affordability concerns create supply and demand stalemate
In October, growth in housing starts was propelled by development in the multifamily sector, but some experts are warning that there could be trouble ahead for the housing market. In fact, several believe that affordability and inventory concerns are contributing to a turn in the market, negatively impacting homebuilder confidence.
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Trump threatens additional $267 billion tariff on Chinese goods

Could further harm residential construction
On Friday, President Donald Trump announced plans to impose a $267 billion tariff on Chinese goods, further escalating an unprecedented trade war. The National Association of Home Builders Chairman Randy Noel said implementation of the tariffs could potentially disrupt an already struggling residential construction industry.
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Construction spending increases 0.1% in July

July 2018 is 5.8% above July 2017
The U.S. Census Bureau of the Department of Commerce announced that construction spending during July 2018 was estimated at a seasonally adjusted annual rate of $1.32 billion, 0.1% above the revised June estimate of $1.31 billion.
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Construction spending declines 0.1% in June

The June figure is 6.1% above June 2017
The U.S. Census Bureau of the Department of Commerce announced Tuesday that construction spending during June 2018 was estimated at a seasonally adjusted annual rate of $1,317.2 billion, 1.1% below the revised May estimate of $1,332.2 billion.
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Housing starts drop 12.3% in June

Labor and supply holding construction back
Housing starts fell 12.3% in June, indicating tariffs and taxes are a deterrence to continual growth, according to the latest report from the U.S. Census Bureau. LendingTree Chief Economist Tendayi Kapfidze said although 3-month average building permits are close to the highest level since 2007, labor shortages are weighing on building activity.
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Housing construction modestly grows despite rising costs

Lumber costs deterring growth
Although construction slightly increased in May, construction prices prove to be a deterrence to growth, according to the latest report from the U.S. Census Bureau. One expert states that more jobs could possibly lead to an increase in production, however, builders are still worried about the increase in construction prices.
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Skender: How to build better cheaper

Construction firm, Skender, releases 101 tips to cut the rising costs of construction
Rising construction costs have put a strain on housing affordability in the U.S. To help mitigate these costs, Skender, a full-service construction company, put together 101 best practices for quality construction on the cheap.
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Dodge Analytics: Residential construction starts fell 9% in April

Multifamily dips 7% YoY, single-family rises 7%YoY
Residential construction starts faltered in April as did the rest of the construction sectors, according to a report by Dodge Data & Analytics. The report showed that residential construction starts, both single-family and multifamily, totaled 303.8 billion, a 9% decrease from March. Multifamily dropped by 20%, which signaled the second declining month in a row.
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