US Contractors Using Off-Site Construction for Commercial Projects

U.S. contractors in the commercial construction industry are exploring off-site construction as a means to address labor shortages, according to the National Institute of Building Sciences Off-Site Construction Council. Following a 2018 survey, about 54% of respondents said they were utilizing off-site construction, which the council as "the planni...
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Number of Open Construction Jobs Declines in November

The U.S. Bureau of Labor Statistics wasn't very optimistic when estimating October 2018's construction unemployment rates, which surprised economists with the highest number of open construction jobs in the 18-year history of the Job Openings and Labor Turnover Survey (JOLTS). However, the National Association of Home Builders (NAHB) reported, such...
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Despite Dip in Construction Confidence, There Is Still a Positive Outlook for 2019

Contractors in the construction industry lost confidence during 2018's third quarter, but moving into the near future, many regained a sense of optimism, according to Associate Builders and Contractors' (ABC) latest Construction Confidence Index (CCI). The index claims about 75% of construction firms expect sales will see an uptick through the end ...
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Multifamily Housing Starts Create Upswing for Overall US Development

Following October's unanticipated decline in U.S. housing starts, homebuilding saw an upswing in November thanks to substantial gains in multifamily housing construction. Single-family housing starts, however, restrained any further growth, reaching its lowest reading since August 2017. On Dec. 18, the National Association of Home Builders (NAHB) r...
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Builder Confidence Slips to End 2018

Builder confidence for newly built single-family homes is at its lowest level in more than three years. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) dipped four points to 56 in December, the lowest reading since May 2015; however, confidence is still in positive territory. One of the contributing factors to the D...
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Construction Materials Prices Decline in November

Construction materials prices are on the decline; however, prices are still higher than they were a year ago. Prices fell 1.8% in November according to Associated Builders and Contractors (ABC), yet materials prices were more than 5% higher than the previous November. "Earlier in 2018, materials prices were racing skyward due to a combination of st...
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October New Home Sales Pace Hits Two-Year Low

With housing affordability squandering buyer interest, the U.S. Department of Housing and Urban Development and the U.S. Census Bureau saw new single-family home sales take a seasonal dive in October. Sales were up nearly 3% from December 2017; however, the National Association of Home Builders (NAHB) reported the seasonally adjusted annual rate dr...
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US Construction Unemployment Rates Historically Low in 22 States for October

Warmer temperatures in the east and hurricane recovery efforts are sustaining employment rates in the construction industry, where Associated Builders and Contractors (ABC) said unemployment rates dropped across 45 states year-over-year (YOY). According to U.S. Bureau of Labor Statistics data, the not-seasonally adjusted (NSA) national construction...
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US Building Materials Outlook Lowered

The outlook for the U.S. building materials sector has been lowered due to a decreased demand in private construction. Moody's Investors Service downgraded its outlook from positive to stable following four years of strong growth. "We expect lower organic operating income growth in the building materials sector over the next 18 months, as growth in...
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California Wildfire Recovery, Unlicensed Contractors

Future residential projects in California will likely take place farther outside of wooded areas, and more will be completed by licensed, contract workers. The Contractors State License Board (CSLB) reached out to thousands of residents affected by the California campfires and wildfires urging them to only work with licensed contractors to ensure p...
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