Rates Remain the Big Question for the New Year
No single factor weighs heavier on the building and construction industry for 2024 than interest rates and how they impact the cost of mortgages. This past year may not have been the worst of times for the building trade but it was far from the best. New housing and commercial building construction was severely impacted […]
Have Building Material Prices Peaked?
New data from the Producer Price Index suggests that costs are coming down on things like softwood lumber as part of an overall decline in material costs. The wild ride up in construction materials in 2023 may have peaked as the year ended and going into 2024 we could see some declines in those costs, […]
New Study Shows Construction Costs Doubled Inflation Rate in 2022
A new NAHB study shows costs per square foot for single-family construction rose at more than twice the inflation rate last year. The Consumer Price Index rose 8% in 2022 but the median square foot price to build a new single-family detached home jumped 18%, more than double that rate. This is according to a […]
Goldman Sachs Forecasts High Home Prices & Mortgages for 2024
Despite some signs that interest rates may be leveling off and housing activity showing signs of life, the big investment banker says next year will still be a hard one for the building trade. There are some indications from the Federal Reserve that interest rates may be topping out while small pockets of the new […]
Construction Financing Still Going Strong
Interest rates may have skyrocketed putting pressure on new builds but lenders are still ready to write you a check for a construction loan. In what seems like a confounding contradiction, lenders are still quite anxious to issue financing for new construction even as the overall building market continues to be impacted by high-interest rates, […]
More Mass Timber Coming to Atlanta
When you come to the next International Woodworking Fair in Atlanta in 2024 you may be able to see more of the burgeoning mass timber movement firsthand. The City of Atlanta is set to get its second mass timber structure, providing showgoers to next year’s International Woodworking Fair a chance to see more of this […]
Can Wearable Tech Help Builders Impacted by Record Heat?
It’s always hot in Texas in the summer, but 2023 is turning into a year of record heat waves, creating enormous concerns for workers, especially in the construction business, who need to do their jobs outside when the temperature is consistently in triple digits. One Dallas-based contractor is trying to address these concerns with new […]
Construction Spending Ticks Up in May, Continuing Uneven Path
The building industry has been on a roller coaster ride the past year and that continued in May – in a good way – when spending in the U.S. beat expectations. Construction spending is still in recovery mode and is unlikely to hit the highs of the early years of the pandemic when the country […]
The World’s Largest Wooden City Set for Stockholm, Sweden
In yet another benchmark moment for the Mass Timber movement, construction will start in Sweden in 2025 on what is being called the “world’s largest wooden city.” It will span more than 60 acres and include over 2,000 homes and 7,000 offices space and when the first phase opens in 2027, Stockholm Wood City will […]
Construction Equipment Rentals Remain Strong
Commercial construction continues to be the driving factor in the strength of the construction equipment rental market, according to a new report from financial services company TD Cowen. “Non-residential construction equipment rental rates remain strong, although commercial office continues to be pressured,” TD Cowen, the research arm of TD Securities wrote in a new report. […]