Every two weeks, we prepare a report focused on understanding market intelligence and analyzing construction industry data and trends.
This in-depth report is developed primarily for internal distribution, but because we want to keep construction professionals like you informed about the industry, we make this report available to anyone who's interested in reading it.
What's New In This Report?
Highlights
The ABI slightly fell below 50 (neutral) in June 2019 at 49.1 points, with the South region and the Mixed Practice sector in the lead.
In July 2019, the Housing Market Index (HMI) was at 65 with increased performance in the current, future and traffic components of the index.
Construction Update
In June 2019, housing permits reflected an annual rate of 1.22M, 6.6% down from their year-ago rate with decreases in both Single-family and Multi-family permits.
However, housing starts in June 2019 were 6.2% above their year-ago rate with 1.25M starts, with a decrease in Single-family, but an increase in Multi-family starts.
646K new Single-family homes were sold in June 2019, 4.5% above the year-ago rate.
Economic Update
The advance estimate of real GDP growth for Q2 2019 was 2.1%, a 1.0% decrease from the previous quarter's estimate of 3.1%.
The Leading Indicator of Remodeling Activity (LIRA) projected annual spending for home improvements and repairs to grow 6.3% in Q3 2019, reaching $328B.
