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Dodge Momentum Index declines in December
The USGlass News Network
The Dodge Momentum Index fell 3% in December to 166.4 (2000=100), down from the revised November reading of 170.7. The Momentum Index, issued by Dodge Construction Network, is a monthly measure of the initial report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. Commercial planning fell 4% in December, and institutional planning slipped 1%.
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How higher rents, rising values will drive multifamily construction in 2022
Construction Dive
While the COVID-19 pandemic has hammered many areas of commercial real estate, the multifamily sector has emerged as a clear winner.
Although apartment rents plummeted in the early months of the pandemic, they quickly recovered in early 2021. These rent increases set the stage for an equally robust sales market that drove up the prices of apartment communities. Rent and valuation growth, taken together, create fertile ground for development.
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November U.S. construction spending hints at balancing of forces moving the market
For Construction Pros
The value of all construction put in place in November rose 0.4%, with residential spending increasing 0.9%, and nonresidential spending remaining unchanged during the month. The U.S. Census Bureau data for the prior two months were revised higher, including a substantial increase in September. Total construction spending for the first 11 months of 2021 is 7.9% greater than the same period of 2020.
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Construction adds 22,000 jobs in December; jobless rate falls to 5%
The USGlass News Network
Construction employment increased by 22,000 jobs between November and December as nonresidential construction firms added workers for the fourth month in a row while residential construction employment slipped, according to an analysis by the Associated General Contractors of America of government data. Association officials said the new employment figures are consistent with the results of a new outlook survey they will be releasing on January 12.
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.AWDI DOOR & WINDOW DIRECTORY
Housing inventory down, home construction costs rise
WFLA News
A study checking on the end of year and New Year housing market by real estate company Redfin said, despite a record low inventory of homes for sale, the average price of a house had gone up, as had the number of buyers.
Kicking off 2022, Redfin reported the number of active listings across the United States had fallen 27% compared to the year before.
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Top 5 health and safety tips for construction industry
PBC Today
The new statistics from the Health & Safety Executive show non-fatal accidents in the construction industry continue to follow a downward trend.
But despite the strides made in reducing accidents on site, the report shows there’s still a lot further to go – in particular the number of fatalities, although also on a downward trajectory, remained pretty constant.
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Tariffs on Canadian lumber will hurt U.S. housing
Pro Builder
Lumber price volatility has been the single biggest drag on the residential construction industry during the COVID-19 pandemic. That’s why the National Association of Home Builders (NAHB) was so disappointed when the Commerce Department moved forward in late November with its next administrative review to double the tariffs on Canadian lumber imports from 8.99% to 17.9%.
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