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US Construction Employment Crisis

US Construction Employment Crisis

US construction employment slipped from July to August for the fourth time in five months, according to an analysis by the Associated General Contractors of America released September 2. US Construction Employment Problem US construction employment slipped from July to August for the fourth time in five months, but spending data suggest the recent weakness is due to firms having a hard time finding workers rather than lack of demand, according to an analysis by AGC. Construction employment in the…

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Canada Housing Starts: July 2016

Canada Housing Starts: July 2016

The Canadian housing starts report from the Canada Mortgage and Housing Corp released Tuesday showed the seasonally adjusted annualized rate of housing starts declined to 198,395 in July, down from a revised 218,326 in June. Construction of multiple units fell 13.3 per cent. Housing Starts, Canada The expected fallback in Canadian housing starts in June was broadly based, according to the CMHC report, with groundbreaking on new detached homes down by a more modest 1.8 per cent, and starts falling…

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Housing Starts, US: June 2016

Housing Starts, US: June 2016

US housing starts for June surged 4.8 per cent to a seasonally adjusted annual pace of 1.19 million units, the Commerce Department said on Tuesday. May’s starts were revised down to a 1.14 million-unit pace from the previously reported 1.16 million-unit pace. US Housing Starts Housing starts in 2Q were a touch higher than the average for the first three months of the year, suggesting that residential construction was probably a small boost to gross domestic product in the second…

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Housing Starts Canada: May 2016

Housing Starts Canada: May 2016

Canadian Mortgage and Housing Corp said Monday the seasonally adjusted annualized rate of Canadian housing starts rose to 218,333, or 17 per cent, in June from a revised 186,709 in May.   Canada Housing Starts  Housing starts in Toronto totalled an annualized 45,848 in June, the highest since March, said CMHC. Vancouver re– corded a pace of 35,445 units in June, the second highest pace in the past 16 years. That more than offset declines in the Atlantic provinces and…

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US Housing Starts: May 2016

US Housing Starts: May 2016

US housing starts slipped in May as the construction of multifamily housing units dropped, but there were further gains in building permits. Groundbreaking fell 0.3 per cent to a seasonally adjusted annual pace of 1.16 million units, the Commerce Department said on Friday. That of single-family homes rose 0.3 per cent to a 764,000-unit pace last month. US Housing Starts: May 2016 Starts on single-family homes, which account for roughly two-thirds of new construction, rose 0.3 per cent in May….

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US Building Lot Shortage: May 2016

US Building Lot Shortage: May 2016

NAHB’s measure of lot shortages hit a new record in May. In answer to special questions on the survey for the NAHB/Wells Fargo Housing Market Index, 64 percent of builders reported that the supply of lots in their markets was low or very low—up from 62 percent last year and the highest the lot shortage percentage has been since NAHB began collecting the information in 1997. Perhaps most notable is that builders reported this record shortage at a time when…

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Canada Housing Construction Investment: March 2016

Canada Housing Construction Investment: March 2016

Investment in new Canadian residential construction totalled $3.8 billion in March, up 9.7 per cent from the same month a year earlier, said Statistics Canada Friday. At the national level, higher spending on apartment and apartment-condominium buildings, which rose 19.9 per cent to $1.4 billion, and single-family dwellings, which increased 5.9 per cent to $1.9 billion, contributed the most to the advance. Investment in row houses also registered an increase, rising 9.2 per cent to $384 million. Conversely, spending on…

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CMD Construction Spending Forecast

CMD Construction Spending Forecast

This week was held another excellent conference call at CMD (formerly Reed Construction Data) on the near- to mid-term US Construction forecast. Analysts Kermit Baker and Ken Simonson, out of the American Institute of Architects and Associated General Contractors respectively, and Canadian Alex Carrick of CMD. CMD US Construction Spending Forecast As always starting with a macroeconomic perspective, Kermit Baker of the AIA projected US GDP growth at 1.5 to 2.5 per cent for the remainder of 2016 and for…

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US REO Inventory Down 23 per cent Y-o-Y: 1Q 2016

US REO Inventory Down 23 per cent Y-o-Y: 1Q 2016

 FANNIE MAE reported Thursday the number of Real Estate Owned inventory declined to 52,289 at the end of 1Q 2016, compared to 79,319 at the end of 1Q 2015. FREDDIE MAC reported the number of REO inventory declined to 15,409 at the end of Q1 2106 compared to 22,738 at the end of Q1 2015. US Real Estate Owned REO (Real Estate Owned) inventory in the US decreased in Q1 for both Fannie and Freddie, and combined inventory is down…

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US Construction: March 2016

US Construction: March 2016

Construction input prices rose on a monthly basis in March for the rst time in nine months according to an Associated Builders and Contractors (ABC) analysis of the Bureau of Labor Statistics (BLS) Producer Price Index. Input prices expanded 0.9 per cent on a monthly basis in March but are still down 3.4 per cent on a year-over-year basis. Nonresidential construction input prices behaved similarly, expanding 1 per cent for the month but down 3.5 per cent from a year…

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