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.
Biggest stories of the first half of 2016 feature article — June 28
Q2 is wrapping up, and we're taking a moment to pause and look back at some of the biggest construction industry stories of the first half of 2016. In our feature article on Tuesday, June 28, we'll explore the news that construction executives should keep top of mind as they look ahead to the second half of the year.
Pending home sales — June 29
The National Association of Realtors will release pending home sales data for May on Wednesday, June 29. Last month, the NAR reported pending sales rose 5.1% in April to a rate of 116.3, up from the upwardly revised rate of 110.7 in March.
April pending home sales far surpassed expectations, as economists surveyed by The Wall Street Journal predicted only a slight 0.7% rise. NAR Chief Economist Lawrence Yun said the strong job market and possibility of rising rents and mortgages are "building momentum" in the housing market.
Housing reports this month have been somewhat mixed. Builder confidence rose two points to a score of 60, housing starts slipped only 0.3% last month after a major boost in April, existing home sales grew 1.8% to a nine-year high, and new home sales slid 6.0%. Will Thursday's results round out this month's reports on a positive note?
Drone rule changes feature article — June 30
Last week, the Federal Aviation Administration issued the first of its highly anticipated small commercial drone rules. Before the FAA issued the new regulations, the agency had to decide on a case-by-case basis through an exemption application process which companies could operate drones commercially. Officials said more drone regulations will be unveiled in the coming months and years. In our feature article on Thursday, June 30, we'll find out how the new rules will directly impact the construction industry.
Construction spending — July 1
The Commerce Department will release May construction spending results on Friday, July 1. Last month, the department announced spending fell 1.8% in April to a seasonally adjusted annual rate of $1.13 trillion, down from the revised rate of $1.16 trillion in March.
Both private residential and nonresidential construction spending slipped 1.5% in April. Within residential, multifamily tumbled 3.1%, single-family remained unchanged, and public construction plunged 2.8%. April's spending dip marked the largest decline in construction spending since January 2011.
Will Friday's results reveal that spending rebounded in May, or will the slide continue?
