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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HighlightsSept 2016 HMI rose 5 points to 65, continuing last months increase Auguest 2016 ABI dipped further to 49.7, below the neutral threshold |
Construction UpdateAugust 2016 housing permits dropped 2.3% since last year; Starts increased 0.9% New single-family sales: 609K houses, 20.6% above the August 2015 estimate |
Economic UpdateThe third estimate for Q2 2016 GDP was 1.4% 34 of 51 large MSAs show 12-month unemployment decreases |
Key Takeaways
- The NAHB/Wells Fargo Housing Market Index (HMI) in August 2016 rose 5 points to 65, indicating that builders' confidence remains very positive
- The Architectural Billings Index (ABI), a 9-12 month leading indicator for commercial construction, declined further to 49.7 in August 2016, below the 50 (neutral) threshold
- Housing starts made gains in August 2016 with a 0.9% increase from last year to 1.1M; single-family starts declined (-1.2%) and multi-family starts increased (4.7%) from last year
- 609K new single-family houses are sold in August 2016, 20.6% above the August 2015 estimate
- The third estimate for GDP growth in Q2 2016 was 1.4%, a slight increase from the second estimate of 1.1%
- 34 of the 51 large MSAs (1M+ population) showed year-over-year unemployment rate decreases in August 2016, with the Denver and Salt Lake City MSAs having the lowest rate (3.2%)
