Sources: National Association of Home Builders, Washington, D.C.; CP staff
Job growth, rising consumer confidence, higher household formations and pent-up demand are helping to bring prospective home buyers back into the market. “A number of positive indicators provide solid evidence this will be a good year for housing and the economy,” affirmed NAHB Chief Economist David Crowe in Las Vegas, site of the 2016 International Builders’ Show.
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The American Concrete Institute has promoted key staff with an eye to increasing alignment and flow from ACI technical documents to educational products: Michael Tholen to managing director of Engineering and Professional Development, Claire Hiltz to manager of Professional Development, and Matthew Senecal to manager, Engineering.
Read MoreSource: National Association of Home Builders, Washington, D.C.
Builder confidence in the market for newly constructed single-family homes rose three points in October to a level of 64 on the NAHB/Wells Fargo Housing Market Index (HMI)—a level last seen at the end of the housing boom a decade ago.
Read MoreSources: Associated Builders & Contractors, National Association of Home Builders, Washington, D.C.; National Labor Relations Board; CP staff
Against precedent dating to 1984, a 3-2 NLRB majority redefines “joint employer” in a decision favoring an International Brotherhood of Teamsters local aiming to extend representation from a recycling station bargaining unit—equipment operators and companion staff employed by the facility’s owner—to a subcontractor whose employees perform waste sorting and related services.
Read MoreSource: National Association of Home Builders, Washington, D.C.
Nationwide housing starts surpassed one million in September, the third time this year, according to U.S. Department of Housing and Urban Development and Census Bureau figures. Total housing production during the month rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million units.
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“A combination of low interest rates; wealth effects stemming from a booming stock market and rising home prices; surging energy production; and expanding industrial output has helped position the U.S. economy for more rapid growth during the next several quarters,” says Associated Builders and Contractors Chief Economist Anirban Basu. “This will lead to more robust recovery in the U.S. nonresidential construction industry, which has also been aided by stable materials prices and improving commercial real estate fundamentals.”
Read MoreSources: Superior Walls of America, New Holland, Pa.; CP staff
Convening in Las Vegas for the International Builders’ Show, the National Association of Home Builders presented its “Project of the Year Award for Green Site Development–Single-family Detached” to Clarence, N.Y.-based Natale Builders for Rivera Greens, a local subdivision whose 35 units bear on Superior Walls Xi precast foundations.
Read MoreSource: National Association of Home Builders, Washington, D.C.
Builder confidence in the market for new single-family homes rose three points to 59 on the NAHB/Wells Fargo Housing Market Index (HMI) for August, marking a fourth consecutive monthly gain and bringing the index to its highest level in nearly eight years.
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