Fiserv, Inc. released its February 2024 Small Business Index, which shows growth in trade contractors up more than 2 percent from the prior month and more than 4.5 percent year-over-year.
A new study by Yardi Matrix highlights shifts in multifamily housing developments over the past decade, with a projected decline in construction starts until 2024, peaking in completions by early 2025.
The economic outlook seemingly continues to improve as U.S. durable goods orders surged 5.4% MoM in November, with YoY growth at 10.1%, its highest since May 2022.
Roofing suppliers and distributors have not been immune to the 40-50% drop in multi-family projects starting in 2023 due to higher debt costs, declining rents, and increases in building material costs; despite challenges, ground-up developments are moving forward under the right conditions.
Texas factory activity contracted more than anticipated in November, as reported by the monthly Texas Manufacturing Outlook Survey by the Federal Reserve Bank of Dallas.
The August producer price index report showed stable construction materials prices, with slight declines in wood and steel products, while power wire and cable prices surged, but overall, construction materials prices have been relatively steady in 2023.
Newly available data science ostensibly reduces the reporting time to days instead of months, questioning the reasoning for a two-month lag in reporting
Seattle-based real estate AI tech firm, Quantarium, is challenging the standard two-month lag used by the Case-Shiller Index to determine changes in home prices with its TerraIndex HPI; the company says its index provides real-time estimates made available on the second Wednesday of the following month.
Approaching more stability after the volatility of the past couple of years, sales of new single-family homes in the US significantly corrected down in June, at 697,000 units, which is 2.5% lower than May's downwardly revised 715,000, but up almost 24% compared to June 2022.