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.
Pending home sales — Jan. 30
The number of homes under contract in the U.S. dipped slightly in November, missing analyst expectations and likely reflecting the sudden increase in mortgage rates following the Nov. 8 election as well as continued inventory shortages. The National Association of Realtors will issue its December pending home sales figures on Monday, Jan. 30, offering more insight into the impact of the election and rising interest rates on homebuying activity.
The impact of Trump's first week on construction feature — Jan. 31
President Donald Trump hit the ground running his first week in office and signed executive orders and other directives that could have long-term impacts on the construction industry and could factor into future projects. In our feature article on Tuesday, Jan. 31, we’ll share a rundown of Trump's moves and find out how construction professionals are reacting, along with what they predict will come next.
Homeownership rate — Jan. 31
The national homeownership rate inched up from a 51-year low in the third quarter as the housing market continued its protracted recovery. Of the 1.1 million households formed during the period, more were owners than were renters — key to a healthy rebound in the market. The Census Bureau will release its fourth-quarter homeownership data on Tuesday, Jan. 31, offering more detail on overall owner trends as well as how specific market segments, such as first-time buyers, are performing.
Construction spending — Feb. 1
The Commerce Department will release December construction spending results on Wednesday, Feb. 1. Spending rose 0.9% in November to a seasonally adjusted annual rate of $1.182 trillion, the highest level since April 2006. The fact that all three major industry sectors — public, residential and nonresidential — saw gains in November signaled construction's strength at the end of 2016. Will Wednesday's report show that construction spending ended the year on a high note?
Transit-oriented developments feature — Feb. 2
Transit-oriented developments are booming across the country and have become a popular combination of walkable, mixed-use living and mass transit. In our feature article on Thursday, Feb. 2, we'll share insights from experts to explore what makes the ideal TOD site, what elements make a TOD successful and where the trend is headed.
Construction employment — Feb. 3
The Bureau of Labor Statistics will release January employment numbers on Friday, Feb. 3. That afternoon, the Associated General Contractors of America will offer their take on the data, and we'll cover both reports in a combined story.
Last month, the BLS announced construction lost 3,000 jobs in December, with the nonresidential sector accounting for the monthly drop. Still, the month's total construction employment of 6,699,000 represented a 1.5% increase from December 2015.
As the industry continues to deal with the ongoing skilled-labor shortage, companies are struggling to find workers to fill positions amid strong demand for services. Will Friday's report reveal another month of declines, or will industry employment rebound?
