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.
Housing starts — Sept. 20
The Commerce Department will release housing starts data for August on Tuesday, Sept. 20. Last month, the department reported housing starts rose 2.1% in July to an annual rate of 1.211 million units. Multifamily construction increased 8.3%, while single-family construction inched up 0.5%.
July's housing starts figure far surpassed economist predictions and represented the strongest month for starts since February. Will Tuesday's report offer another positive sign for the housing market?
University construction feature article — Sept. 20
University construction budgets are often limited and inadequate to meet the maintenance needs of existing buildings, much less fund the new construction necessary to draw top-notch staff and students. In our feature article on Tuesday, Sept. 20, we'll find out how schools raise money and try to meet those needs. Construction experts will also reveal what kinds of opportunities contractors can find in the educational sector.
AIA billings — Sept. 21
The American Institute of Architects will release its Architectural Billings Index on Wednesday, Sept. 21. Last month, the AIA reported the index fell to 51.5 in July, down from June's score of 52.6. Despite the dip in July, the reading still marked the sixth consecutive month of increased demand for design services.
In last month's report, AIA Chief Economist Kermit Baker attributed the slight decline in design services to "uncertainty" around the upcoming presidential election resulting in some developers putting major projects on hold.
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 approximately nine to 12 months. Will Wednesday's results reflect ongoing uncertainty in the industry?
Protecting workers from Zika feature article — Sept. 22
The Zika virus is a major threat on job sites in a growing geographical area. OSHA has issued its own alerts, but what are construction companies doing to protect their employees? In our feature article on Thursday, Sept. 22, we'll find out how managers can help their workers avoid the virus.
Existing home sales — Sept. 22
The National Association of Realtors will release existing home sales data for August on Thursday, Sept. 22. Last month, the NAR reported existing home sales fell 3.2% between June and July to a seasonally adjusted annual rate of 5.39 million.
NAR Chief Economist Lawrence Yun said the drop in existing home sales in July confirmed the group's ongoing warnings that "severely restrained inventory and the tightening grip it's putting on affordability" would catch up to the market and hinder stronger sales growth.
Will existing home sales bounce back in Thursday's report, or will they continue declining?