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Since the COVID-19 pandemic began, multifamily developers and builders have had their work cut out for them as they try to budget for their lumber needs. After months of wild fluctuations, lumber futures fell to their lowest level in a year earlier this month, according to lumber price data from NASDAQ. They have since reversed course, and currently stand at just under $600. — Multifamily Dive
As reported by Multifamily Dive, two pandemic-induced bubbles, in which lumber futures rose to record highs in the thousands of dollars, popped, dropping to below $500. The producer price index, a measure of the average changes in prices received by producers, for softwood lumber fell 22.6% in... View full entry
According to the Dodge Construction Network (DCN), total construction starts surged 48% in July to a seasonally adjusted annual rate of $1.36 trillion. The gain is due to the start of three large manufacturing plants and two Liquefied Natural Gas (LNG) export facilities. Even without these... View full entry
The number of unfilled positions in the construction industry appears to be falling, according to new figures by the Associated Builders and Contractors (ABC). June 2022 saw 334,000 unfilled positions in the sector, down 17% on the previous month, but still 4% higher than June 2021. ABC’s... View full entry
Demand for architectural design services has expanded for the seventeenth consecutive month, according to the latest economic report released by the American Institute of Architects. The Architecture Billings Index (ABI) for June reached a score of 53.2, softening only slightly from May's score of... View full entry
A new report from the Dodge Construction Network indicates the continued rebound of the building industry in 12 of America’s 20 largest metropolitan areas during the first two quarters of 2022, propelled by new starts in the commercial and multifamily residential sectors. A survey at the... View full entry
In June, total construction starts fell 5% to a seasonally adjusted annual rate of $932.3 billion, according to a new Dodge Construction Network report. Nonresidential building starts fell 14%, and residential starts dropped 6%. Nonbuilding starts, on the other hand, gained 13% last month due to... View full entry
On July 26th, voting closes for the election of the next RIBA president. When the winner commences their two-year term as president on September 1st, 2023, they will be confronted with a list of burning issues across the UK’s architectural profession; and will be expected to publicly lead a... View full entry
Turner and Townsend’s latest annual International Construction Market Survey names disruptions in the global supply chain, triggered in part by lockdowns in China due to COVID-19, and rising commodity costs following the invasion of Ukraine as key stress factors for construction markets... View full entry
As Archinect has explored through numerous feature articles, the U.S. architecture profession faces deep ongoing challenges surrounding salaries, fee levels, and work-life balances. In a sign that such conditions are not confined to the U.S., recent years have seen architectural worker movements... View full entry
In a new Dodge Construction Network report, total construction starts rose 4% in May to a seasonally-adjusted annual rate of $979.5 billion. Nonresidential building starts rose 20%, while residential and nonbuilding starts declined 4% and 2%, respectively. In the first five months of... View full entry
The American Institute of Architects’ latest economic data shows that May was the sixteenth consecutive month of growing demand for design services across the U.S. The Architecture Billings Index for May, which uses feedback from architecture firms, finished at a score of 53.5. While down on... View full entry
A new poll conducted by the National Association of Home Builders shows builder confidence in the market for new single-family homes is at its lowest level after six straight months of decline.
The poll measures builder perceptions of current and future single-family home sales, and the traffic of prospective buyers. All three categories posted declines in the latest monthly data with buyer traffic falling most sharply, a sign that homebuyers — especially first-time ones — are giving up.
— NPR
The now-familiar cocktail of increasingly higher interest rates and home prices is once again causing headaches for contractors looking to fill America’s shortage of 4 million homes. The NAHB has been pushing the Biden Administration to take action on the supply-side of the problem since last... View full entry
A major increase in hourly wages has not stopped a record number of unfilled positions in the construction industry, according to a new analysis by the Association of General Contractors of America (AGC). While 36,000 employees were added to the construction industry last month, 494,000 open... View full entry
The Dodge Momentum Index rose 7% in May to 176.2, up from the revised April reading of 165.2. The institutional component of the Index rose 9% and commercial planning rose 6%. May’s increase pushed the level of planning above the most recent cyclical high set in November 2021. Last month... View full entry
It’s been a rough couple of years for timber. As we have previously reported, lumber prices across the United States saw a 90% increase in May 2021 on the previous 12 months, adding an extra $36,000 onto the cost of constructing a new home. In a relief for clients and contractors alike, that... View full entry
