Economy: Page 78
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Low inventory will continue to plague housing market through 2016
May single-family-home groundbreakings were only an annualized 1.138 million, well short of the 1.5 million Forbes reported is necessary to meet demand.
By Kim Slowey • July 8, 2016 -
Deep Dive
Why minority homeownership rates plunged after the housing crash — and how to reverse the trend
One study found that during the recession, "race was the leading explanation for why people lost homes they owned and turned back to rentals."
By Kim Slowey • July 7, 2016 -
Explore the Trendline➔
sandsun via Getty ImagesTrendlineTop 5 stories from Construction Dive
Construction Dive editors curate some of the industry’s top stories from this year.
By Construction Dive staff -
CoreLogic: Housing is 'oasis of stability' with 1.3% May home price gain
The data company said the steady price growth is due to fast-paced resale activity and the limited supply of available homes on the market.
By Emily Peiffer • July 5, 2016 -
Floundering public sector drags total US construction spending down 0.8%
Despite the month-to-month decline, May construction spending was still 2.8% higher than May 2015.
By Emily Peiffer • July 1, 2016 -
Redfin: Housing demand slips as buyers struggle to find available properties
Frustrated by low inventory, potential homebuyers wrote 4.5% fewer offers year over year in May, the third straight month of declines.
By Kim Slowey • July 1, 2016 -
64% spike in rents since 1960 far outpaces income growth
Higher construction costs, regulations preventing development and increased demand in expensive cities have contributed to the rise, according to The Wall Street Journal.
By Kim Slowey • June 30, 2016 -
Booming US hotel construction surpasses all other countries
In the U.S. hotel market, New York City leads the way with 32,136 rooms under construction through the end of Q1.
By Kim Slowey • June 30, 2016 -
Pending home sales tumble 3.7% as demand far outpaces supply
May's rate was 0.2% lower than May 2015 — marking the first time in nearly two years that pending sales declined year over year.
By Emily Peiffer • June 29, 2016 -
10 most stable US housing markets
Boulder, CO, topped the list of the best markets for growth and stability, according to SmartAsset.
By Kim Slowey • June 29, 2016 -
NYC construction boom drives 7% bump in 2015 industry employment
City construction workers also saw their wages increase by 3%, the largest year-over-year rise since 2008, according to the New York Building Congress.
By Kim Slowey • June 29, 2016 -
NAHB: Growing number of builders plagued by skilled labor, subcontractor shortages
The current labor crisis has proven to be more severe than past ones, especially in the face of fewer single-family home starts than in previous years.
By Kim Slowey • June 29, 2016 -
How Brexit will impact the US housing market
The U.S. could see an influx of foreign buyers looking to pull out of the U.K. after the move, according to NAR Chief Economist Lawrence Yun.
By Kim Slowey • June 28, 2016 -
Dodge Data: 5% rise in construction starts buoyed by public works, utilities
Chief Economist Robert Murray said the month-to-month starts pattern continued to be "uneven," but overall starts have logged annual increases since 2010.
By Kim Slowey • June 27, 2016 -
Zillow: Starter home values growing at twice the pace of higher-end market
A 9% drop in starter home inventory combined with an 8% year-over-year rise in home values has resulted in an environment of stiff competition and bidding wars.
By Kim Slowey • June 27, 2016 -
20 hottest housing markets in June
Realtor.com Chief Economist Jonathan Smoke said pent-up demand and low inventory continued to push home prices higher this month.
By Kim Slowey • June 24, 2016 -
New home sales slide 6%, offer reprieve from April's 'unsustainable' level
Despite last month's dip, May's rate of new single-family sales was still 8.7% above May 2015.
By Emily Peiffer • June 23, 2016 -
Report: Housing failing to meet demand; rents pricing lower-income families out of market
According to a Harvard Joint Center for Housing Studies report, the number of U.S. households that pay more than 30% of their incomes on rent has risen to 40 million.
By Kim Slowey • June 23, 2016 -
Seattle building boom reaches record-breaking pace with $3.5B in new construction underway
The city currently has 65 major projects under construction downtown, and approximately two-thirds of those are residential.
By Kim Slowey • June 23, 2016 -
AIA: Demand for architecture services 'solid across the board'
The Architectural Billings Index surged to its highest level in almost a year and has remained in positive territory for four consecutive months.
By Emily Peiffer • June 22, 2016 -
Existing home sales rise to fastest pace in 9 years; median sales price reaches all-time high
The NAR said the record-high price is the result of tight inventory, as there is "a glaring need" for new home construction.
By Emily Peiffer • June 22, 2016 -
ABC: Construction backlog for largest US contractors soars to record-breaking pace
While nationally, the largest nonresidential contractors are experiencing backlogs as high as 12 months, the Southern region hit a new backlog high of 10 months.
By Kim Slowey • June 22, 2016 -
Housing crisis not over for US minorities
Housing advocates say minorities were hit harder in the housing crash, and those circumstances have knocked a good deal of the minority population into rentals.
By Kim Slowey • June 21, 2016 -
Urban Institute: Only 6 homes built per 10 new households
The organization said governments at all levels need policy changes to encourage new construction, boost lending and make rents more affordable.
By Kim Slowey • June 20, 2016 -
AGC: 'Only a matter of time' before construction labor shortage cripples broader US economy
The fact that only 19 states added construction jobs in May signals that talent shortages are impacting growth in the building industry.
By Kim Slowey • June 20, 2016 -
Housing starts plateau in May — but single-family construction inches up
Despite the slight slide in new residential construction, May's bump in building permits signals that the market will continue to gain momentum.
By Emily Peiffer • June 17, 2016