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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. Index values for December published last week.

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Residential construction jobs slowly return

Housing Wire

unemployment rate recorded in February 2020, just prior to the Covid-19 pandemic. The construction sector added a total of 31,000 jobs in November, on par with the two prior months. It was a strong month for construction,” First American deputy chief economist Odeta Kushi said in a statement. “We While this is a 0.4%

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Residential construction jobs now 7.6% above pre-COVID level

Housing Wire

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

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May jobs report complicates things for the Fed

Housing Wire

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. Residential building construction added 2,400 jobs during the month.

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Can we still avoid a recession?

Housing Wire

The downturn in the LEI reflects consumers’ worsening outlook amid high inflation and rising interest rates, as well as declining prospects for housing construction and manufacturing. In addition, prices paid for transportation of products from China to the U.S. NAR total inventory data: 1,220,000 listings.

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DataDigest: Water wars in the Southwest

Housing Wire

Arizona state officials announced last week that there is not enough groundwater for all of the construction that has already been approved in the Phoenix area. It’s important to note that as of 2020, 41% of Arizona’s water supply came from groundwater, 36% from the Colorado River, 18% from in-state rivers, and 5% was reclaimed water.

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8 Sustainability Trends Driving Commercial Real Estate for Earth Day

The Robert Weiler Company

Construction of new green buildings and green renovation or retrofit projects increase the asset value of buildings by upwards of 9%. trillion in 2018, then surpassed $35 trillion in 2020. The material and how it’s installed are critical to constructing a building and ensuring a tight building envelope.