Worker visa feature article — June 21

The government limits H-2B foreign worker visas to 66,000 per year, and many in the construction industry say the program is a necessary alternative to fill open positions when there are no U.S. citizens available. In fact, some are pushing to raise the limit. In our feature article on Tuesday, June 21, we'll explore the requirements for using the H-2B program — the only one available for skilled construction workers — and find out how some abuse the visa system in an effort to skirt the law.

AIA billings — June 22

The American Institute of Architects will release its Architectural Billings Index on Wednesday, June 22. Last month, the AIA reported the index slipped to 50.6 in April, down from March's score of 51.9. The April score once again signaled a rise in design services, as any mark above 50 indicates an increase in billings. 

Although the index dipped slightly in April, the AIA emphasized that it had held in positive territory for three consecutive months. "Architects continue to report a wide range of business conditions, with unusually high variation in design activity across the major building categories," AIA Chief Economist Kermit Baker said.

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.

Existing home sales — June 22

The Commerce Department will release existing home sales data for May on Wednesday, June 22. Last month, the department announced existing home sales inched up 1.7% between March and April to a seasonally adjusted annual rate of 5.45 million.

NAR Chief Economist Lawrence Yun said the housing market is "slowly building momentum" due largely to low mortgage rates and a slight rise in housing inventory. 

So far this month, housing reports have been mostly positive. Builder confidence rose two points to a score of 60, and housing starts slipped only 0.3% last month. Will Wednesday's results offer another month of gains for existing home sales and continue the market's positive momentum?

Mixed-use development feature article — June 23

Whether it's to draw or retain quality employees or to create a more walkable community, the construction of mixed-use facilities is on the rise. New sports complexes, like the $1 billion planned Texas Rangers stadium, often include shopping, dining and hotel and convention center elements. Companies like Verizon, which has a $1 billion mixed-use complex in the works in Texas, see these kinds of developments as a way to draw "transit-oriented" employees who are looking for a high-quality employment experience, where they can live, work and find entertainment options all in the same area.

This trend is turning suburbs, business districts and sports venues into mini-neighborhoods. In our feature article on Thursday, June 23, we'll look at the financial, practical and even emotional aspects to the rise of mixed-use developments. 

New home sales — June 23

The Commerce Department will release new home sales data for May on Thursday, June 23. Last month, the department announced new home sales surged 16.6% between March and April to an annual rate of 619,000.

New home sales, which represent about 10% of all home sales, demolished far surpassed, as economists predicted only a 2.4% gain. The major increase in new home sales indicated that "housing was returning to more stable footing," due largely due to low mortgage rates and a strengthening job market, according to Bloomberg.

Will Thursday's new home sales data build on April's steep rise, or will sales slip?