Buy a House If You Can Find One

house being built

Oct. 19, 2020 – There is an interesting statistic released by the National Association of Home Builders: Home sales are outpacing starts by a historic margin. Housing demand has increased so rapidly in recent months that there is now an unprecedented gap between sales and home construction. Sales of new single-family homes in August increased 4.8% to an annual rate…

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Construction Starts Step Back in September

construction site

Total construction starts dipped 18% in September to a seasonally adjusted annual rate of $667.7 billion, essentially taking back August’s gain, according to Dodge Data & Analytics. While some of this decline is certainly payback from several large projects entering start in August, the drop in activity brought total construction starts below levels seen in June and July. Nonresidential starts fell…

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Dodge Momentum Index Increases in September

construction site plans

The Dodge Momentum Index rose 3.7% in September to 130.8 (2000=100) from the revised August reading of 126.2. The Momentum Index, issued by Dodge Data & Analytics, is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year. 

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Construction Spending Rises in August; Highway Construction Ticks Up

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Construction spending during August 2020 was estimated at a seasonally adjusted annual rate of $1,412.8 billion, 1.4% (±1.0%) above the revised July estimate of $1,392.7 billion. The August figure is 2.5% (±1.5%) above the August 2019 estimate of $1,379.0 billion.

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Single-Family Housing Starts Rise; Permits Mixed

Single-family starts showed continued growth in August but overall housing production fell 5.1% to a seasonally adjusted annual rate of 1.42 million units due to a double-digit percentage decline in multifamily production, according to a report from the U.S. Housing and Urban Development and Commerce Department. The pace of single-family starts in August was the highest production rate since February.

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Construction Starts Post Solid Gain in August

Total construction starts rose 19% in August to a seasonally adjusted annual rate of $793.3 billion. Gains were seen in all three major building sectors: nonresidential building starts rose 16% and residential building climbed 12%, while nonbuilding construction jumped 40% over the month. While large projects certainly influenced the August gains, removing those projects would still have resulted in a gain for the month.

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Letter Calls on Congress to Make ‘Turn-Key’ Transportation Deal

On Sept. 9, the American Association of State Highway and Transportation Officials (AASHTO) along with 87 other organizations co-signed a letter to Congressional leadership calling for a one-year “turn-key” extension of current surface transportation funding legislation with the addition of emergency funding for state departments of transportation and public transit agencies.

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