Every two weeks, Oldcastle Building Solutions Business Intelligence prepares a report focused on understanding and analyzing construction market data and trends.
This in-depth report is developed primarily for internal distribution, but Oldcastle Building Solutions exists to inform construction professionals like you, so we're making this report available for anyone who's interested in reading it.
What's New In This Report?
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HighlightsNAHB/Wells Fargo HMI: Solid at 58 for fourth consecutive month ABI contracted slightly to 50.6, following March's 2016 high at 51.9 |
Construction UpdateMarch to April 2016 housing permits up 3.6%; starts up 6.6% New single family house sales up 16.6% above March 2016 to 619K |
Economic UpdateCPI-U (Inflation) rose 0.4%, the strongest monthly gain in 12-months Second estimate of real GDP for Q1 2016 is 0.8%, up from first estimate |
Key Takeaways
- The NAHB/Wells Fargo Housing Market Index (HMI) showed building confidence holding solid at 58 for the fourth consecutive month, with gains in the future sales index
- The Architectural Billings Index (ABI), a 9-12 month leading indicator for commercial construction, dipped slightly in April to 50.6. However, the design contracts index showed growth suggesting stronger forthcoming activity in billings over the next several months
- In April 2016, housing permits were up 3.6% to 1.1M, primarily due to gains in multi-family permits which were 8% above the March 2016 estimate
- Housing starts were up 6.6% above the March 2016 estimate with 1.2M, with increases in both the single family and multi-family segments
- New single family house sales made impressive gains in April 2016, jumping to 619,000, which was a 16.6% gain from March and 23.8% above April 2015 estimates
- The CPI-U, which indicates inflation, rose by 0.4% in April, marking the strongest monthly gain in 12 months
- The second estimate for Q1 2016 real GDP showed growth in the first quarter of 0.8%, an improvement from the first estimate of 0.5% growth
