August Housing Starts Soar Thanks to Multifamily Gains

August housing starts saw the largest gain in 12 years, exceeding experts' predictions in July with a seasonally adjusted annual rate of 1.36 million units. Rising more than 12%, the surge in housing starts was attributed to a signification increase in the multifamily housing sector, where the National Association of Home Builders (NAHB) said start...
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July Construction Input Prices Improve Yet Remain Worrisome

Construction input prices experienced a modest comeback in July, but results have left some builders unsettled with the year-over-year (YOY) findings. Despite the 0.8% expansion month-over-month (MoM), input prices fell more than half a percent YOY in part by notable declines in natural gas, unprocessed energy materials, crude petroleum and softwoo...
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Construction Contractors’ Confidence Holds Steady in May

Fresh into the dog days of summer, the U.S. construction industry is assessing contractors' confidence levels for nonresidential construction. According to Associated Builders and Contractors' (ABC) latest Construction Confidence Index (CCI) results in May, contractors are optimistic about sales expectations in the near future, yet show some uncert...
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Monthly, Yearly Construction Input Prices Stumble in June

Monthly fluctuations are common, which is why construction economists weren't surprised to see a decrease in June's construction input prices. What experts didn't expect was the same decrease in year-over-year readings for the first time in nearly three years. On July 12, Associated Builders and Contractors (ABC) reported a 1.3% decrease in month-o...
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Construction Jobs Maintain Monthly Growth but Future Uncertain

Jobs in the construction industry rose minimally in May but garnered a 3% year-over-year (YOY) increase, according to Associated Builders and Contractors (ABC). In its assessment of the latest labor statistics data, ABC reported an additional 4,000 net new construction jobs were added in May, while the overall number of jobs increased to 215,000 co...
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April New Single-Family Home Sales Drop After March Rise

Unable to maintain March's upward trajectory, new single-family home sales dropped nearly 7% in April as experts try to pinpoint the cause behind this change in course. According to a National Association of Home Builders (NAHB) report on May 23, the decline in April sales led to a seasonally adjusted annual rate of 673,000 units, following March's...
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‘Little Reason’ to Worry Over Construction Input Price Increases

To the dismay of contractors, construction input prices saw nearly a 1% increase in April over the prior month, with a substantial increase in pricing year over year (YOY) at 2.4%. On May 9, Associated Builders and Contractors (ABC) reported price hikes in four of 11 subcategories in April, while seven declined. According to ABC's analysis of the U...
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Residential, Nonresidential Construction Jobs Show Signs of Improvement

The construction industry saw a modest gain in new jobs in April with a 3.5% increase in the past year. According to Associated Builders and Contractors (ABC) and the U.S. Bureau of Labor Statistics, 33,000 new net jobs were added between March and April 2019. Since April 2018, open positions in residential building grew by nearly 5% to 39,000 addi...
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Construction Fraud Leads to Guilty Plea in California

Construction fraud strikes again, this time in California, where two siblings admitted to fraud and embezzlement against the California State Compensation Insurance Fund between January 2012 and March 2017, with a loss of more than $500,000. According to Construction Dive, the owner and office manager—brother and sister, respectively—at Ultimate, I...
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Low Prices Attributed to Increase New Home Sales in March

While housing starts declined for the second month in a row in March, new single-family home sales reached its highest recording in nearly two years. According to the National Association of Home Builders (NAHB), new home sales climbed to an annual rate of 692,000 homes, which NAHB Chairman Greg Ugalde said was related to affordable pricing. The av...
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