Each Monday, we'll let you know what's coming in the week ahead, including important residential and commercial report releases, as well as our own feature articles.
Lean construction feature — April 19
The lean construction principles of minimizing waste to maximize efficiency have continued to pick up steam in the building industry. In an American Institute of Architects' February survey about architect perspectives on how nonresidential building design will change, respondents reported that alternative project delivery methods and lean construction practices — in an effort to increase the efficiency of building design — will rise in the coming years.
During the Construction Management Association of America's October conference, experts noted the benefits of lean construction, such as eliminating waste, improving quality control and speeding up construction. However, the trend can come with downsides, such as the fact that it offers broad objectives with unclear protocols and can add additional time to a project's planning stages.
In our feature article on Tuesday, April 19, we will explore the lean construction process and uncover exactly what makes it so attractive to construction professionals.
Housing starts — April 19
The Commerce Department will release housing starts data for March on Tuesday, April 19. Last month, the department announced housing starts rose 5.2% in February to a 1.18 million annualized rate, up from the revised 1.12 million rate in January. Total February housing starts were a whopping 30.9% higher than in February 2015 and reached their highest level in five months.
Experts cited job growth in the U.S. as a motivation for people to feel more comfortable making the major purchase of a home. The strong single-family showing signaled "continued confidence in demand for residential real-estate," according to Bloomberg.
Will Tuesday's housing starts results keep up the market's positive direction?
Existing home sales — April 20
The Commerce Department will release existing home sales data for March on Wednesday, April 20. Last month, the department announced existing home sales dropped 7.1% between January and February to a seasonally adjusted annual rate of 5.08 million.
The NAR cited "unshakably low supply levels and steadfast price growth" as the main factors contributing to the drop in existing home sales. Tight inventory and rising prices have been ongoing concerns for the market's recovery.
Residential experts will be watching Wednesday's results closely as they seek indicators of growth in the housing market.
AIA billings index — April 20
The American Institute of Architects will release its Architectural Billings Index on Wednesday, April 20. Last month, the AIA reported the index rose to 50.3 in February, up from January's score of 49.6. The February score signaled a rise in design services, as any score above 50 indicates an increase in billings.
February's move into positive territory was welcome news after the January score slipped into negative ground for the first time in five months. AIA Chief Economist Kermit Baker said that he expects the next few months to bring even stronger demand for design services, as "March and April are traditionally the busiest months for architecture firms."
The ABI is a significant report for the commercial construction industry, as it serves as an indicator of future construction spending — with a lead time of about nine to 12 months — as design services lead to new commercial projects.
Green building vs. building codes and regulations feature — April 21
Green building is far from a new concept, but green construction practices continue to grow in popularity as more owners demand higher energy efficiency and lower environmental impact for their projects — in both the commercial and residential sectors.
Owners and construction professionals are being encouraged to build with sustainability in mind and to utilize green building methods, but some building codes and regulations — which vary from state to state — haven't caught up. In our feature article on Thursday, April 21, we will take a close look at those conflicts and examine what efforts are underway to bridge that gap.