Construction + Economy

The number of newly built single-family homes on the market shrank to 297,000 units in April, thinning supplies to their lowest level since May 2001, according to government figures released in late May. The report noted that the pace of new-home sales held virtually even with the previous month, at a seasonally adjusted annual rate [...]

The U.S. Census Bureau of the Department of Commerce recently announced that construction spending during April 2009 was estimated at a seasonally adjusted annual rate of $968.7 billion, 0.8% (±1.3%) above the revised March estimate of $961.3 billion and 10.7% (±1.8%) below the April 2008 estimate of $1,085.2 billion. During the first 4 months of [...]

Builder confidence in the market for newly built, single-family homes improved for a second consecutive month in May to the highest level since September of 2008, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). The HMI rose two points to 16 for the month. “The fact that the May HMI [...]

After an eight-point jump in March, the American Institute of Architects (AIA) Architecture Billings Index (ABI) fell less than a full point in April. As a leading economic indicator of construction activity, the ABI reflects the approximate 9- to 12-month lag time between architecture billings and construction spending. AIA reported the April ABI rating was [...]

ASHRAE is taking another crack at producing BSR/ASHRAE/IESNA/USGBC Standard 189.1P, Standard for the Design of High-Performance Green Buildings Except Low-Rise Residential Buildings. This is the third public review draft. You may recall this standard had difficulties and the committee creating it was reconstituted last year. The public review period is 45 days, from May 1 [...]

March 2009 construction spending was estimated at a seasonally adjusted annual rate of $969.7 billion, 0.3% above the revised February estimate of $967.1 billion and 11.1% below the same period a year ago, when spending stood at $1,090.5 billion. During the first quarter of 2009, spending amounted to $209.5 billion, 10.9% below $235.2 billion for [...]

In James Howard Kunstler’s view, public spaces should be inspired centers of civic life and the physical manifestation of the common good. Instead, he argues in this Technology, Entertainment and Design (TED) Talk, what we have in America is a nation of places not worth caring about. http://www.youtube.com/v/Q1ZeXnmDZMQ&hl=en&fs=1

More evidence that the housing market may be bottoming out, although the continuing credit crunch and a decline in permits are worrisome for future growth. Characteristic volatility in the multifamily sector pushed nationwide housing starts down 10.8% in March as production of single-family homes remained unchanged, according to the Department of Commerce. Overall starts fell [...]

The number of newly built, single-family homes on the market declined for a 23rd consecutive month in March as builders focused on winnowing down their inventories of unsold units, according to the Department of Commerce. Inventory shrank to 311,000 units, which is a 10.7-month supply at the current sales pace. Further, new home sales in [...]