Homebuilder confidence report — Dec. 15

The National Association of Home Builders/Wells Fargo Housing Market Index will be released on Tuesday, Dec. 15. Last month, the index unexpectedly fell three points to a score of 62. Despite the slip in optimism, the NAHB said the drop was the result of the market leveling out after an "unusually high" confidence mark in October. November was "more in line with the consistent, modest growth that we have seen throughout the year," NAHB Chief Economist David Crowe said after last month's report.

As the first entry in the stream of housing market reports released in the next two weeks, will the HMI offer positive news for the residential industry?

Labor shortage update feature article — Dec. 15

The skilled labor shortage has been one of the most significant problems facing the construction industry. The Associated General Contractors of America have continued calling for an influx of technical school and career programs to boost the number of young people entering the construction industry, an increase in funding for vocational schools, an effort to hire more veterans, and significant immigration reform. 

However, in October and November, the construction industry saw major employment gains. The sector added 31,000 jobs in October and 47,000 in November — the most of any other sector that month. We talked with experts from major construction associations to find out if the industry has turned a corner on the skilled labor shortage, or if this is just an anomaly. Check back on Tuesday, Dec. 15 to find out what the experts predict for industry employment amid a major building boom.

Housing starts data — Dec. 16

The Commerce Department will release housing starts data for November on Wednesday, Dec. 16. Last month, housing starts tumbled 11% to a seasonally adjusted annual pace of 1.06 million units, the lowest level since March. Single-family home starts dipped 2.4%, while multifamily units, including apartments and condominiums, sank 25.1%. Will the Commerce Department report show a rebound after the major decline last month?

AIA billings index — Dec. 16

The American Institute of Architects will release its Architectural Billings Index on Wednesday, Dec. 16. Last month, the index dipped slightly to 53.1. Despite the decline, it still pointed to an increase in design services, as any score of 50 or higher indicates increased billings.

The ABI is considered a leading economic indicator of future construction activity, reflecting the nine-to-12 month lead-time between architect billings and the beginning of construction. 

Federal reserve interest rate decision — Dec. 16

The highly anticipated day is finally here (probably), as the Federal Reserve is expected to raise short-term interest rates for the first time in almost a decade after its meeting on Wednesday, Dec. 16. Strong economic reports in the last few months have led most analysts to predict the increase will occur after this meeting. In a Reuters poll, 90% of economists said they believed the Fed would raise rates on Wednesday.

Homebuilders are keeping a close eye on interest rates, as some fear an increase would deter potential buyers from making the move from renting to owning — thus reducing the number of potential buyers for their new properties. But officials and economists have said the slow rise in rates will not result in crippling effects for the housing market or for builders counting on a continued recovery in the residential industry. 

We'll keep you up to date on the Fed decision and let you know if the long-awaited hike finally happens, or if officials will buck predictions and choose to wait a few more months.

Gamification technology and BIM feature article — Dec. 17

Building information modeling (BIM) is a major trend in the construction industry, as it takes construction out of the realm of two-dimensional plans and drawings and allows owners, contractors, architects and engineers to collaborate using 3-D images of floor plans, site plans or entire buildings.

A somewhat unknown but interesting facet of the trend is the influence of gaming technology, which experts say has converted BIM, enriched the customer experience and made project collaboration more productive. Autodesk is incorporating gaming technology into its BIM solutions, and this could go a long way in enticing younger people into the industry.

We spoke with BIM and construction technology experts to explore the relationship between gamification tech and BIM. Check out our feature article on Thursday, Dec. 17 to find out more.