Tag Archives: Construction

Single-family construction is up 1.2 percent over January and 3.4 percent over the year, according to recent U.S. Census data. Spending in this sector rose from $248 billion to $254 billion since 2016. Spending on multi-family and overall construction are both up as well.

While many analysts are celebrating the slow and steady recovery of the housing market, an article by the borrower advice website LoanLove offers a different view of the current state of the United States housing market. The article cites economists who believe the current housing market recovery stretching back 18 months is not a true sign of the market's economic outlook. Rather, the recovery is built on shaky ground that could collapse.

A booming tech sector and overall job and income growth have helped fuel a real estate boom in San Francisco, according to a recent special commentary from the Wells Fargo Economics Group. The group found that the city's perennially tight housing market has gotten even tighter, pushing rents and home prices up.

Nationally, asking prices rose 0.8 percent month-over-month in March and 2.8 percent quarter-over-quarter in April. Yet asking prices rose a mere 9.0 percent year-over-year, the smallest gain in 11 months according to an analysis of data from Trulia’s Price Monitor and Rent Monitor. With monthly and quarterly increases holding steady, why are yearly increases slipping?

Construction spending rose for the month of February, realizing a .1 percent increase after a downward revision to January’s figures. This analysis was presented by the Wells Fargo Economics Group, who found monthly non-residential construction spending rose .6 percent, while residential construction fell .7 percent month-over-month.

Texas employment grew in the month of February, particularly in the oil and gas industry, according to a new report from the Wells Fargo Economics Group. The group from Wells found that Texas added 37,600 workers to nonfarm payrolls throughout the month.

After losing 32,000 jobs in January, nonfarm employment rebounded in February, adding 58,800 jobs in February, according to the Wells Fargo Economics Group. February's increase reflected a 2.3 percent growth over the past year, creating a net gain of 345,600 jobs.