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 feature articles.
Why companies are heading to Chicago feature — Feb. 21
Major companies — construction and non-construction alike — are making a break for Chicago. Caterpillar, Exp and McDonald's are all in various stages of relocating their corporate headquarters there. In our feature article on Tuesday, Feb. 21, we'll hear from experts about why more companies are heading to the Windy City.
Existing-home sales — Feb. 22
Existing-home sales closed out 2016 at their highest level in a decade, posting 5.45 million sales for the year. However, December's monthly figure tells a more nuanced story: Low inventory levels and affordability concerns pushed sales in the category down 2.8% from November. On Wednesday, Feb. 22, the National Association of Realtors will release its existing-home sales report for January, which is expected to offer more insight into how the category will respond to those headwinds in 2017.
AIA billings — Feb. 22
The American Institute of Architects will release its Architecture Billings Index on Wednesday, Feb. 22. Last month, the AIA reported that the index soared to 55.9 in December, up from 50.6 in November. December marked the third-consecutive month of increased demand for design services.
The strong score to close 2016 could signal that the industry is optimistic about the new presidential administration. AIA Chief Economist Kermit Baker noted that December is considered a volatile month for index readings, and he expects the coming months to offer a clearer picture of the state of the industry.
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 nine to 12 months. Will the strength at the end of 2016 continue into this year?
Developers raise the bar on multifamily amenities feature — Feb. 23
A fitness center and outdoor grill were once major up-sells. Today's multifamily renters expect all that — and a whole lot more. In our feature article on Thursday, Feb. 23, we talk with architects and developers about how projects are competing for millennial residents on features alone, from yoga studios and co-working spaces to electric car charging stations, and whether the amenities escalation has a ceiling.
Train hub redevelopment feature — Feb. 23
Trains were once one of the only mass transit options, and each train station had its own character, with some counting on grandeur and opulence to greet visitors. Today, there’s a new wave of renovation and attention to detail that harkens back to that time. In our feature article on Thursday, Feb. 23, we'll find out why government agencies and transportation companies are redeveloping these massive transit hubs, and what's next for the growing trend.
New-home sales — Feb. 24
The category missed analyst expectations in December, dropping 10.4% from November and 0.4% for the year. Industry watchers credit a shortage of lots and labor, elevated home prices and rising mortgage rates as factors slowing down the rate of new sales. On Friday, Feb. 24, the Commerce Department will release its new-home sales figures for January, indicating whether an infusion of supply from January's positive single-family housing starts report can ease price pressure and boost sales.
