June 27, 2018
With the demand up for single-family homes and the amount of laborers down, homebuilders explore the use of robots on the job. With 910,000 homes expected to be built by the end of 2018, creative problem solving kicks in with robots taking on the jobs more quickly and for much less cost than a traditional labor force.
June 26, 2018
More Millennials shifting to the single-family housing market are behind the latest boost in new home sales—the second-highest reported sales in roughly a decade. According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, single-family home sales increased 6.7% in May, following a 1.5% decline in April.
June 21, 2018
May’s construction material prices are “bad news” for the sector, according to Associated Builders and Contractors, Inc. (ABC), following its analysis of U.S. Bureau of Labor Statistics that revealed the largest monthly increase in a decade. The latest data, released on June 13, indicated a 2.2% increase month-over-month (MoM) and an 8.8% increase since May 2017.
June 19, 2018
Builder confidence for newly-built single-family homes took a step back in June, according to the latest National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The index dipped to 68 this month, just shy of the six-month average of 70.
June 6, 2018
Although there was no fluctuation in April’s month-over-month (MoM) nonresidential construction spending, the U.S. Census Bureau revealed a 6% gain over last year’s spending, the highest year-over-year (YOY) increase coming from within the conservation and development sector. In its analysis of the bureau’s data, Associated Builders and Contractors (ABC) reported boosts in YOY private and public-sector spending by 5.3% and 7.3%, respectively.
May 16, 2018
Tight supply and trading tariffs are causing softwood lumber prices to climb, becoming one of the costlier raw materials for the U.S. construction sector. Despite the recorded price decline from March to April, as seen in the National Association of Home Builders’ (NAHB) Producer Price Index (PPI) last week, many economists are finding a surge in softwood lumber prices month-over-month, including analysts from Bloomberg.
May 11, 2018
While some in the business credit world are staying in touch with the latest and greatest technological advancements for data collection, those in the construction industry still prefer the good old-fashioned method of manual systems. However, a new study by software company Trackvia suggests that sticking with manual data collection is both risky and costly to companies.