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.
Colorado Homebuilding Academy Q+A — May 31
Builders are getting creative to beat the continuing skilled-labor shortage, including establishing new or investing in existing vocational education programs to train workers in trades facing a critical worker gap. One such group is the Colorado Homebuilding Academy, which works with high schools in the state as well as the unemployed, underemployed and military veterans, to help participants start a career in the building trades.
On Wednesday, May 31, we'll share our conversation with the organization's director, Michael Smith, about the state of the construction labor market today and efforts to support workers.
Pending home sales — May 31
Although tight for-sale inventory is proving to be a drag on pending home sales activity, the category started 2017 on strong footing. Pending home sales are an indicator of future home sales, which lagged last month in the new-home and existing-home sales categories as a mild winter pushed up some contracts. On Wednesday, May 31, the National Association of Realtors will release its pending sales figures for April, offering more insight into how builders are facing strong demand this spring.
Designing with bird safety in mind — May 31
Designing buildings with maximum bird safety in mind is becoming a more common concern and practice in the industry, as the reflective glazing that clads many building exteriors today can be difficult for birds to distinguish, causing them to crash into the structure and, in many cases, die as a result. In our feature article on Wednesday, May 31, we’ll find out what goes into this type of design, how effective it can be in preventing bird deaths, and the role of activists in bringing awareness to the issue.
Construction spending — June 1
The Commerce Department will release its April construction spending results on Thursday, June 1. Last month, the department announced spending fell 0.2% in March to a seasonally adjusted annual rate of $1.218 trillion.
Private residential construction rose 1.2% during the period, but private nonresidential construction slipped 1.3%. Despite March's decline, spending in the first three months of 2017 was 4.9% ahead of the same period in 2016.
Thursday's report will offer a clearer picture of industry activity in the busy spring building season.
Industry reactions to Trump's infrastructure proposal — June 1
President Donald Trump released a few more details of his much-touted $1 trillion infrastructure plan as part of his 2018 budget proposal. The outline, which calls for $200 billion in direct federal spending over 10 years to help spur $1 trillion in investment, leaves many questions unanswered. In our feature article on Thursday, June 1, we’ll check in with industry experts to get their thoughts on whether the administration’s proposals are feasible.
The state of franchise homebuilding — June 1
Franchise homebuilding isn't new, but it is gaining traction, and more businesses are taking shape around the model as builders look to it to diversify their operations and try out new markets. For some, it's an entry point into homebuilding entirely. In our feature article on Thursday, June 1, we'll talk to builders in the franchise segment to see what's driving growth and where that growth is occurring.
Construction employment — June 2
The Bureau of Labor Statistics will release its May employment numbers on Friday, June 2. Last month, the BLS announced the construction industry added 5,000 jobs in April, with the nonresidential sector's 3,200 net new jobs leading the month's gains. April's total construction employment of 6.877 million marked a 173,000-position — or 2.6% — increase from April 2016.
April was the second-straight month of slow payroll growth after a hiring surge earlier in the year. Will Friday's report show job growth on the rebound, or will the sluggish pattern continue?
