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.
'Blacklisting' rule feature article — Aug. 30
The Obama Administration released the final version of the Fair Pay and Safe Workplaces rule — also known as the "blacklisting" rule — last week, and industry trade groups are already preparing for battle against the change. Unions have said the rule ensures that contractors will act responsibly during the course of a federal project, but other industry players have claimed the regulation allows for arbitrary enforcement and could keep smaller firms from seeking federal contracts
In our feature article on Tuesday, Aug. 31, we'll take a deeper look at both sides of the argument to find out how the regulation change will affect construction companies.
Pending home sales — Aug. 31
The National Association of Realtors will release pending home sales data for July on Wednesday, Aug. 31. Last month, the NAR reported pending sales inched up 0.2% in June to a rate of 111.0.
Although June's rate was 1.0% higher than June 2015, the results came in far below expectations. NAR Chief Economist Lawrence Yun once again attributed the lack of stronger growth in residential sales to tight available inventory on the market.
Housing market reports this month have been mostly positive, with the exception of a 3.2% drop in existing home sales. Builder confidence rose two points, housing starts increased 2.1% and new home sales soared 12.4%. Will Wednesday's pending home sales data end the month of housing reports on a high note?
CA negligent contractor bill feature article — Sept. 1
In the wake of the tragic June 2015 Berkeley, CA, balcony collapse that killed six people and injured seven others, California is considering a bill that would require the Contractors State License Board and the Building Standards Commission to conduct a study on how to protect the public from negligent contractors and how to create more transparency in the industry.
In our feature article on Thursday, Sept. 1, we'll talk with experts and find out what this legislation could mean for contractors in the long run.
Construction spending — Sept. 1
The Commerce Department will release July construction spending results on Thursday, Sept. 1. Last month, the department announced spending declined 0.6% in June to a seasonally adjusted annual rate of $1.134 trillion.
June private residential construction spending once again held steady, while private nonresidential spending fell another 1.3%. June's slide marked the third consecutive month of declines in construction spending, but experts have predicted that the statistic will bounce back in the coming months.
Will Thursday's results break the negative trend of falling construction spending, or will the disappointing pattern continue?
