Risk Allocation Determines Credit Impact After P3 Construction Delays

March 1, 2018

When construction delays arise in a public-private partnership (P3), that doesn’t necessarily mean negative credit will follow. Instead, Moody’s Investors Service reports, the outcome is based on a few factors, mainly risk allocation between the public procuring authority, construction contractor and project company.

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Townhouse Construction, Custom Building Show Signs of Life in 2017

Feb. 27, 2018

Home sales may have weakened, but that isn’t halting townhouse construction or custom building, according to recent analyses by the National Association of Home Builders (NAHB).

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New Home Sales Start 2018 on Decline

Feb. 26, 2018

New single-family home sales are at their lowest level since the end of summer following a second straight month of declines. January sales were at a seasonally adjusted annual rate of 593,000, according to the latest release from the Census Bureau and Department of Housing and Urban Development.

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Architecture Billings Increase in January

Feb. 23, 2018

Architecture billings continued to increase, starting off the new year with a bang. The Architecture Billings Index (ABI) from the American Institute of Architects (AIA) jumped to 54.7 in January, the highest score in that month since 2007. It’s also the fourth-straight month with a reading over 50. A score over 50 indicates a billing increase.

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Existing Home Sales Drop for Second Consecutive Month

Feb. 22, 2018

Existing home sales are down for the second straight month, following a modest drop in January. The decline last month culminates a year-over-year setback of 4.8%, the largest annual decline since August 2014, according to the National Association of Realtors (NAR).

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Year-Over-Year Gains Seen in U.S. Lumber Exports, Imports

Feb. 21, 2018

Lumber trade in the U.S. showed year-over-year gains in both exports and imports last year, while talks of fair pricing continue among the nation’s government and industry leaders.

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Construction Input Prices Increase to Start 2018

Feb. 20, 2018

The cost of construction is up in the new year. Input prices rose 1.1% in January, according to Associated Builders and Contractors (ABC) analysis of data from the Bureau of Labor Statistics. Construction input prices are also up nearly 5% from January 2017. Prices for nonresidential construction materials jumped 4.7% year-over-year and 1% from December 2017.

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Commercial, Multifamily Construction Starts May Have Peaked in 2017

Feb. 16, 2018

Lenders may be taking a step back when it comes to financing U.S. commercial and multifamily construction projects, following a report by Dodge Data & Analytics that showed a year-over-year decline in 2017’s top markets.

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Builders’ Single-Family Sales Expectations Jump to Post-Recession High

Feb. 15, 2018

Builder confidence for newly-built single-family homes was unchanged at 72 in February’s National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). “Demand conditions are positive, but supply-side construction hurdles need to be managed, as scarce labor and building material price increases remain top concerns,” noted NAHB economist Robert Dietz.

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2017 Housing Affordability Similar Year-Over-Year

Feb. 14, 2018

The U.S. housing market ended 2017 at a relatively flat affordability rate, slightly up from the prior quarter yet similar to year-over-year findings.

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