Economy: Page 88
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Construction spending falls for 1st time in 17 months
Along with the November spending results, the Commerce Department also revised construction data between January 2005 and October 2015 due to a "processing error in the tabulation of data."
By Emily Peiffer • Jan. 4, 2016 -
Zillow: 2015 total US home value rose to $28T; renters spent $535B
"Americans are spending a lot of money on housing, and that will make affordability an important issue next year," Zillow's chief economist said.
By Kim Slowey • Jan. 4, 2016 -
Explore the Trendline➔
Permission granted by Associated General Contractors of America
TrendlineLabor
A roundup of articles about issues affecting the workforce.
By Construction Dive staff -
NAR: Market 'headwinds' result in Nov. pending home sales decline
Economists cited the ongoing problems of rising home prices and limited home inventory as the drivers behind the decline in pending home sales.
By Emily Peiffer • Dec. 30, 2015 -
Existing home sales plummet to 19-month low
NAR economist Lawrence Yun attributed a significant portion of November's sales numbers to new regulations that likely led to longer closing times on properties.
By Emily Peiffer • Dec. 22, 2015 -
AGC: Booming demand drives Nov. construction employment growth in 38 states
The association's chief economist Ken Simonson said the skilled worker shortage is keeping job gains from growing at a more rapid pace.
By Kim Slowey • Dec. 20, 2015 -
Report: $1.1T spending bill to trigger a 'substantial lift' in construction
The General Services Administration's construction budget was tripled to $1.6 billion in the omnibus legislation, and the Department of Veterans Administration's construction funding was doubled to $1.2 billion.
By Kim Slowey • Dec. 20, 2015 -
Dodge Data: Nov. construction starts slip 5%
Nonresidential projects saw the sharpest month-over-month decline of all three sectors, with a 13% drop to $175.4 billion.
By Kim Slowey • Dec. 20, 2015 -
ENR survey: Construction companies to offer more raises in 2016
Respondents indicated that specialty trade contractor employees can expect the highest average pay hike, at 4.25%.
By Kim Slowey • Dec. 17, 2015 -
Shaquille O'Neal assists launch of NJ construction training program
The first stop for many of the Newark, NJ, Project IMPACT trainees will be Shaq's long-delayed residential skyscraper.
By Kim Slowey • Dec. 17, 2015 -
ABC: South posts 'highest level of backlog in history'
The national backlog average remained unchanged in the third quarter, as the association noted companies of every size continue to be hindered by the skilled labor shortage.
By Kim Slowey • Dec. 17, 2015 -
Federal Reserve to raise interest rates
Despite the inevitable rise in mortgage rates as a result of the Fed decision, Jonathan Smoke, chief economist with Realtor.com, said, "We’re months if not years away from the type of high rates that would pose substantial risk to home sales."
By Emily Peiffer • Dec. 16, 2015 -
Zillow: Fed rate hike won't deter most homebuyers
However, the real estate site's survey found respondents indicated they might consider a less expensive home if mortgage interest rates rose to 4.5%.
By Kim Slowey • Dec. 16, 2015 -
Report: Steep housing prices behind Toyota's move from CA to TX
After hearing complaints from employees, the car company found that housing costs in Torrance, CA, are three times more expensive per square foot than in the Dallas-Fort Worth metro area, according to an insider.
By Kim Slowey • Dec. 16, 2015 -
Housing starts soar 10.5% as market is 'gaining momentum'
The positive results were a welcome reprieve after the 11% plunge in October.
By Emily Peiffer • Dec. 16, 2015 -
Builder confidence dips, but 'consistent recovery' continues
All three HMI components fell in December, as sales expectations dipped two points, current sales conditions lost one point and buyer traffic declined two points.
By Emily Peiffer • Dec. 15, 2015 -
NAHB: Construction workers older than overall US workforce
According to 2013 Census data, states with the highest median construction worker age include Maine, New Hampshire and Connecticut.
By Kim Slowey • Dec. 15, 2015 -
Deep Dive
Construction labor shortage update: Don't overlook 'the long game'
AGC, NAHB and ABC experts said that despite recent positive jobs reports, the industry needs to focus on a more long-term problem: an aging workforce.
By Kim Slowey • Dec. 15, 2015 -
CMD: Nov. construction starts down a seasonal 2.5%
Last month's starts were up 1.6% from November 2014 and 9.4% higher than the average November starts for the last five years.
By Kim Slowey • Dec. 14, 2015 -
ABC: Construction material prices slide for 5th-straight month
The association's chief economist said prices could start to soon level off, but there likely will not be a major bump in prices anytime soon.
By Emily Peiffer • Dec. 11, 2015 -
NYC named world's most expensive city for construction
Arcadis chalks up the high building costs to strong currency and resource constraints.
By Kim Slowey • Dec. 10, 2015 -
BLS: Construction sector to add 790K jobs over next 10 years
Despite the major additions, the agency noted that employment in the industry "is not projected to return to the 2006 peak."
By Kim Slowey • Dec. 10, 2015 -
Zillow: San Francisco housing market reaching 'bubble' status
The fact that housing experts are now willing to use the word "bubble" in reference to the Bay Area and a few other markets is raising concerns in the industry.
By Emily Peiffer • Dec. 10, 2015 -
Survey: AEC firms 'stymied' by shortage of experienced professionals
In the BD+C report, 16.3% of respondents said their company had to delay or completely turn down a project due to the inability to find qualified people to manage it.
By Emily Peiffer • Dec. 9, 2015 -
10 hottest housing markets for millennials in 2016
Realtor.com also listed the five markets where members of the younger generation are least likely to buy homes, mostly due to lack of growth in the area.
By Kim Slowey • Dec. 9, 2015 -
Dodge Momentum Index dips for 2nd consecutive month
However, the firm noted that the index is now "more consistent with the gentle upward trend in planning activity that began in 2012."
By Kim Slowey • Dec. 8, 2015
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