Author: admin

In the October 2021 P.I.P Construction Spending report from the US Census Bureau we see that total construction has risen 0.2% since last month and continues to rise in the 1 year to 8.6% from October 2020 to October 2021. Residential construction has fallen this month -0.5% but remains up 16.4% from October 2020. The largest increases in construction spending from last month have come from public sources. Private Construction saw marginal gains/losses in all verticals except for Amusement and Recreation which saw a 6% rise compared to last month. Public construction saw a 16.4% gain in Conservation and Development…moreOctober 2021 P.I.P Construction Spending – Census Bureau

For November 2021 we see a 3.6% increase in total permits issued from October 2021. We also see a marginal 0.9% increase from last year. We continue to see single family housing permits decrease by -4.5% from this time last year, this leads us to believe that the single family market is cooling off. Combined with a 15% increase in permits issued for multi-family developments with 5+ units we believe investors are starting to come back to the market, taking pre-pandemic plans off the shelf. There has been a considerable increase in starts, up 11.8% from last month and 8.3%…moreNovember 2021 New Residential Construction – Census Bureau

Put-in-place construction spending for September 2021 shows a -0.5 decrease from last month but a large 7.8% increase from September of 2020. Overall, new residential construction (not including renovations) accounts for 1/3rd of all construction spending. Another 1/3rd is from private construction spending, including renovations. The last 1/3rd is public construction spending + spending on repairs/renovations.  Private nonresidential construction spending has fallen -0.6% from last month and -0.5% from last year. Commercial and Manufacturing, and Health Care are the only private verticals which have seen an increase in spending over the past 12 months. Government spending on construction has increased…moreSeptember 2021 P.I.P Construction Spending – Census Bureau

In October 2021 we saw residential construction permits rise 4.0% from September of 2021 and up 3.4% from October of 2020. Permits for single family homes are up 2.7% for the month but down -6.3% since September of 2020. This may suggest that the single family residential construction market is beginning to cool down. Contrasting this slow down in single family homes is a large uptick in the amount of permits for multi-family developments. New builds with 5+ units are up 6.5% since September 2021 and 34% since October.  Units authotrized but not started are up 4.7% from last month…moreOctober 2021 New Residential Construction – Census Bureau

Total construction spending has seen no change from last month, July 2021, but an 8.9% increase since August 2020. Residential construction has grown 8.9% since August 2020. Despite the strength of the residential market, commercial construction has decreased -3.0% since August 2020. Additionally, inflation over this period has decreased the value of total construction spending further. The most resilient nonresidential markets over the past 12 months have been Sewage and Waste, up 7.5%, Health care, up 6.9%, and Highway and Street, up 2.7%. Manufacturing has seen a small increase in spending, 2.1% over the last year however this is in…moreAugust 2021 Construction Spending – US Census Bureau

Permits issued for construction in September decreased by -7.7% from August with no change from September of 2020. Single family homes are down -0.9% from September while multi-family developments are down -21%. Single family homes show no change from this time last year while multi family developments are up 18%. Units authorized by not starting remains stagnant with a 0.4% increase from last month but a large increase of 40.4% from this time last year. Multi family developments are edging out single family homes 43.1% vs 38.5% year over year. Units started have decreased by -1.6% from last month but…moreSeptember 2021 New Residential Construction – US Census Bureau

July 2021 new residential construction numbers came out last week. We see permits issued for angle family homes have dropped slightly from last month by -1.7% buy are up 5.5% from this time last year. We see developers are starting to get back into the market this summer with permits issued up 11.1% from June and up 6.4% from last year. Developers seeking permits cooled off during the second quarter of this year but after this latest release we anticipate developers coming back to the market. Single family residential construction permitted but not started has increased marginally by 0.7% from…moreJuly 2021 New Residential Construction – Census Bureau

June 2021 construction spending is out and we see a slight increase in spending from last month up 0.1%. Overall construction spending is up 8.2% from June 2020. Residential construction has kept the overall spending up with 28.8% increase from June 2020 however non-residential construction has dipped -6.6% from June 2020 and -0.9% from last month. All industries have been hit hard but highway and street spending are down 5.2% from last month. Conservation & development continues to make gains with another 6.3% rise in construction spending. Private construction has been making a comeback since last year but this is…moreJune 2021 Construction Spending Report – Census Bureau

Since May 2020 we have seen construction spending increase by 7.5%. Total residential spending has increased by 28.2% while non-residential spending has decreased by -7.1% The largest declines are in public safety spending which we understand to be due to easing covid restrictions. We continue to see large decreases in lodging while offices, commercial buildings, and manufacturing spending continues to struggle. We expect that as the total vaccination rate increases that these sectors will have healthy growth.  The largest increases from April have been spending on water supply, 2.1%, while conservation & development has increased by 1.5% and highway spending…moreMay 2021 P.I.P Construction Spending – Census Bureau

June 2021 U.S. Census Bureau new residential construction shows a 6.3% decrease in single family permits and a 1.6% decrease in permits sought for multi-family. We continue to see large gains year over year, +23.3% overall, however we believe this is due to the incredible drop early in the pandemic. Overall we expect the construction market to continue to cool off; supply shortages in the economy should begin to straighten out when the pandemic is resolved. The number of homes authorized but not started were down marginally, 0.7%, in the single family market. Units authorized but not started dropped 5.4%…moreJune 2021 New Residential Construction – Census Bureau