Tag Archives: construction

Solid New Home Sales in July

New home sales increased in July to an annualized level of 507,000; that is up a solid 26,000 from the previous month. The revision to June was essentially flat. Three of the four regions posted increases with the South leading the way, followed by the West and Northeast. The Midwest was the only region to [...]

Construction Data Improves with Detail

Construction spending rose an almost imperceptible 0.1% in June, with a drop in the private sector offsetting ongoing gains in the public sector. Revisions to previous months were to the upside, however, suggesting that the improving trend in construction that we saw with last month’s release is still intact.

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New Home Sales Lower on Weakness in South and West

New home sales fell to a 482,000 unit annualized pace In June, down 35,000 from May. That drop came on top of a 29,000 downward revision to the previous month. Sales in three of the four regions in the country were lower,

Multifamily Market Hot: Inflation Tepid

Housing starts rebounded to a 1.174 million-unit pace in June, while the decline for May was slightly less than initially reported. Gains were concentrated in the multi-family market as builders are still rushing to meet what they see as a permanent shift by millennials to move to urban centers and delay marriage and having children; [...]

Rebound in Construction Spending Continues

Construction spending rose 0.8% in May and held most of April’s bounce-back. The April data were revised down a bit, but March revisions now show that we were already seeing a comeback from the worse-than-usual winter by early spring. Gains during the most recent month occurred in both the public and private sectors, but were [...]

New Home Sales Surge

New home sales accelerated to a 546,000-unit pace in May. This data not only beat expectations but also comes after a strong upward revision to April. Both the Northeast and West posted increases from April

Housing Starts Down, Permits Up

Housing starts plunged 11.1% to slightly above the million-unit mark in May, after a surge in April. The correction in May from the April spurt was expected and somewhat offset by upward revisions to the April data. The housing market was playing catch-up in April after a dismal winter.

Primer for May Employment Data

We are expecting nonfarm payrolls to rise by 205,000 in May, a little less than consensus. The private sector is expected to account for 200,000 of those gains, with state and local governments adding 5,000 jobs, mostly in education. The quality of new jobs for the month, however, is expected to improve as the demand [...]

Ray of Sunshine in Construction

Construction spending surged at a much faster-than-expected 2.2% pace in April after the data were revised up significantly for the month of March. This is among the most sensitive of sectors to unusually harsh winter weather (especially more snow than usual) and confirms that at least a small portion of the weakness we saw in [...]