Most automakers reported a drop in U.S. vehicle sales in July and analysts are predicting more pain to come in the second half of the year. “Every year there is a clunker of a month,” Mike Jackson, chief executive of AutoNation Inc., told Reuters. “I think July will be that month from a retail point […]
Home price gains are starting to lose momentum, but an inventory shortage kept prices strong in May despite slower sales. The S&P CoreLogic Case-Shiller National Home Price NSA Index rose 6.4 percent in May, matching the year-over-year-increase reported in April. The 20-city composite posted a 6.5 percent gain year-over-year, compared to 6.7 percent in April. […]
Sales of new single-family houses slipped 5.3 percent from May to June to a seasonally adjusted annual rate of 631,000, according to the latest report by the U.S. Census Bureau and Department of Housing and Urban Development. The decline was accompanied by a downwardly revised estimate of 666,000 for May. The June SAAR was at […]
A housing shortage is impacting existing home sales and pushing prices to a new high, reported the National Association of Realtors. The June data from NAR shows existing home sales decreased 0.6 percent in June, falling for the third month in a row and the fifth time this year. Sales were at a seasonally adjusted […]
The Associated General Contractors of America are supportive of long-term legislation proposed by the chairman of the House Transportation and Infrastructure Committee to address the nation’s aging infrastructure problem. The draft proposal includes a user-fee approach to fund infrastructure repair. AGC CEO Stephen Sandherr said the association is prepared to work with the chairman, leadership […]
Housing starts in June dropped 12.3 percent from May to a seasonally adjusted annual rate of 1,273,000. June starts were 4.2 percent below the level in June 2017. A plunge in multi-family housing starts led the decline, falling 20.2 percent to a rate of 304,000 for buildings with five units or more. Single-family starts were […]
Constructions costs are escalating due to tariffs on a wide range of building and road construction materials, said the Associated General Contractors of America in a new analysis of Labor Department data. The producer price index rose sharply on construction inputs in June. Aluminum mill shapes jumped 20 percent year-over-year, copper and brass mill shapes […]
Construction spending has accelerated for six straight months, according to Steel Market Update’s latest analysis of Commerce Department data. Growth of total construction expenditures on a rolling three-month basis year over year increased from 0.9 percent in November 2017 to 4.4 percent in May 2018. In the DOC’s July 2 release, which included data through […]
The Dodge Momentum Index, a measure of the nonresidential construction projects in planning, moved higher in June, gaining 0.8 percent to post a score of 165.5. The commercial component of the index outpaced the institutional component, with gains of 1.1 percent and 0.3 percent, respectively. “June’s advance marks the fifth straight monthly increase for the […]
May heating and cooling equipment shipments were up 10.0 percent in May compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) last Friday. This is the higest year-over-year increase since March 2017 when there was a 10.1 percent increase. Residential and commercial storage water heaters were up […]
Detroit automakers reported higher sales in June as buyer enthusiasm for SUVs and pickup trucks continued. Ford sales for the month increased 1.2 percent year-over-year to 230,635 vehicles on purchases of SUVs and F-series trucks. Fiat Chrysler sales jumped 8 percent to 202,264 vehicles in June and General Motors, no longer reporting monthly sales, said […]
The climb in home prices eased somewhat in April, according to the latest data from the S&P CoreLogic Case Shiller National Home Price Index. The national index showed a 6.4 percent annual gain in April, down from 6.5 percent in March. The 10-City Composite annual increase came in at 6.2 percent, down from 6.4 percent […]
New home sales took off in May, soaring 6.7 percent to a seasonally adjusted annual rate of 689,000 units from a downwardly revised April rate of 689,000, according to data from HUD and the U.S. Census Bureau. May sales were at the second-highest level since the Great Recession, driven by sales in the South. “Sales […]
Existing home sales declined for the second month in a row, dipping 0.4 percent to a seasonally adjusted annual rate of 5.43 million in May, said the National Association of Realtors. Compared to a year ago, sales are down 3.0 percent. The sales pace is much weaker than it should be considering the solid economy […]
Housing starts rose 5.0 percent in May to a seasonally adjusted annual rate of 1,350,000, the highest level since July 2007, according to data from the Commerce Department. Starts were 20.3 percent above the rate in May 2017. Single-family housing starts rose 3.9 percent from April and multi-family housing of five units or more jumped […]
Association Officials Say the Threat of New Tariffs Has Already Led to Dramatic Increases in the Cost of Many Construction Materials, Warn Prices Will Grow as the New Trade Restrictions Take Effect Reprinted with permission of the Associated General Contractors of America, Wednesday, June 13, 2018: Construction costs accelerated again in May, with steep increases […]
April heating and cooling equipment shipments were up 8.2 percent in April compared to one year ago, according to data released by the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) last Friday. This is the higest year-over-year increase since October 2017 when there was an 8.6 percent increase. Residential and commercial storage water heaters were up […]
The Dodge Momentum Index, a measure of the first report for nonresidential buildings in planning and an indicator of future construction, rose 1.8 percent in May to a score of 167.8. Commercial construction planning drove the increase in May, gaining 4.7 percent while the institutional component of the Index fell 2.4 percent. Dodge Data & […]
Total construction spending through April has expanded for eight straight months, according to Steel Market Update’s latest analysis of Commerce Department data. The growth of total construction on a rolling three-month basis year over year has increased every month since August last year and reached 6.0 percent in April. Construction expenditures data is developed by […]
Rising fuel prices don’t seem to be impacting automotive sales; U.S. consumers are still hungry for SUVs and light trucks. WardsAuto reported that U.S. automakers delivered 1.58 million light vehicles in May for a seasonally adjusted annual rate of 16.8 million units. Sales of Ford’s F-Series pickups jumped 11.3 percent to 84,639 trucks despite a […]
Home prices are continuing to rise, according to the latest S&P Corelogic Case-Shiller Index. The U.S. National Home Price NSA Index gained 6.45 percent in March. The 20-City composite was up 6.8 percent year-over-year with no change from the previous month. Seattle, Las Vegas, and San Francisco reported the highest year-over-year gains, at 23.0 percent, […]
Sales of new homes softened in April after a 4 percent jump in March and a relatively strong first quarter. Sales of new single-family homes dipped 1.5 percent in April to a seasonally adjusted annual rate of 662,000, according to Commerce Department data. New home sales still exceeded the year-ago rate by 11.6 percent. The […]
Sales of existing homes in April followed the decline in sales of newly built homes. After two months of increase, existing home sales fell on both a monthly and annual basis. Completed transactions for existing homes, including single-family, townhomes, condos and co-ops, decreased 2.5 percent in April to an annual rate of 5.46 million, reported […]
Housing starts slowed in April, falling 3.6 percent from revised March data to a seasonally adjusted annual rate of 1,287,000. Compared to a year ago, starts increased 10.5 percent, reports the National Association of Home Builders (NAHB). Most of the April decline was a result of a 12.6 percent plunge in multifamily housing after making […]
Below is the latest data released by the the Air-Conditioning, Heating, and Refrigeration Institute (AHRI) regarding residential and commercial heating and cooling equipment shipments through March 2018. You may read the full press release on their website here. Residential Storage Water Heaters U.S. shipments of residential gas storage water heaters for March 2018 decreased 2.2 […]
A massive five at automotive parts supplier Meridian Magnesium Products has disrupted vehicle production at Ford, General Motors, FCA, BMW and Mercedes-Benz. An explosion and fire at the Meridian Lightweight Technology’s Eaton Rapids plant in Michigan on May 2 has forced Ford to suspend production of its popular F-150 truck and Superduty pickups. Ford has […]
Construction costs are surging as tariffs drive prices up for a wide range of building materials, said a new analysis of Labor Department data by the Associated General Contractors of America. Firms are facing higher input prices that they are unable to pass along to customers. “Contractors have started to boost the prices they charge, […]
The Dodge Momentum Index, a first report for nonresidential building projects in planning, jumped 6.1 percent in April to 163.0. Commercial and institutional components of the Index both rose 5.3 percent and 5.8 percent, respectively. “Over the last two months, the commercial portion of the Momentum Index has posted the most aggressive growth, fueled by […]
Total construction spending has expanded for seven straight months, according to Steel Market Update’s latest analysis of Department of Commerce data. The growth of total construction on a rolling 12-month basis year over year increased from 2.1 percent in January to 2.2 percent in February to 2.3 percent in March this year. On a rolling […]
U.S. auto sales slipped in April after a robust March. WardsAuto estimated the seasonally adjusted annual rate at 17.1 million and actual light vehicle sales for the month at 1.35 million, down from 17.4 million and 1.5 million, respectively, from the previous month. SUVs and pickup trucks led sales again this month, despite gas prices […]