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.
New home sales — May 24
The Commerce Department will release new home sales data for April on Tuesday, May 24. Last month, the department announced new home sales inched down 1.5% between February and March to an annual rate of 511,000 units.
NAHB Chief Economist Robert Dietz said after last month's release that even though there was little change to new home sales in March, overall sales in the U.S. saw a "modest" year-over-year increase of 5.4%. He also said the NAHB expects a faster sales pace for the remainder of 2016 given the environment of low interest rates and rising employment.
Housing reports this month have been mostly optimistic for the residential industry. Builder confidence held steady at a score of 58, housing starts rose 6.6% in April to a 1.172 million annualized rate, and existing home sales inched up 1.7%.
Will Tuesday's new home sales data keep up the positive trend of positive housing reports this month?
How contractors integrate new technologies feature article — May 24
The construction industry is rapidly evolving with the influence of new technologies and innovations. In our feature article last week, however, experts said that the industry's overall aversion to change could keep construction professionals from capitalizing on technology that has the potential to boost productivity.
Some contractors are taking major steps to find and integrate technological advances into their everyday operations. In our feature article on Tuesday, May 24, we'll talk with three leading construction companies about their cultures of innovation and find out how they decide which new technologies to implement.
Pending home sales — May 26
The National Association of Realtors will release pending home sales data for April on Thursday, May 26. Last month, the NAR reported pending sales inched up 1.4% in March to a rate of 110.5, up from the downwardly revised rate of 109.0 in February.
NAR Chief Economist Lawrence Yun said the positive momentum in pending sales was good news during the spring buying season. However, he added that the lack of new home construction — especially entry-level homes for first-time buyers — was "starting to impact some top job producing markets, where endless supply shortages continue to limit choices for buyers and are driving up prices beyond what a growing share of households can comfortably afford."
Will Thursday's pending home sale results round out the month's housing market reports on a positive note?
Project financing feature article — May 26
With political gridlock constantly threatening infrastructure funding, construction companies have focused their attention on alternative funding methods. Earlier this month, Reuters reported that high-speed rail proponents in the U.S., using California’s bullet train project as a cautionary tale, are seeking private funding rather than public in an effort to avoid regulatory delays and legislative involvement.
In our feature article on Thursday, May 26, we'll talk with experts about the most common approaches to financing large construction projects, including the increasingly popular public-private partnerships.
