10 of the World's Most Expensive Megaprojects
From the Top Down: Ending Sexual Harassment in the Construction Industry
Spending Up for the Month, Down for the Year
Friday Funny: "Raising the Roof"
Tracking Technology Helps Construction Companies Save Money, Improve Safety
What The ‘Tech’ Just Happened to Meetings?
Weekly Grind: The Future of Construction Technology Across the Country
Friday Funny: It's Just Ergonomics
By Martin crutsinger, ap economics writer
October 19, 2016
WASHINGTON (AP) — Homebuilders pulled back on construction for a second straight month in September, with a plunge in apartments offsetting gains in single-family homes. Building activity was weak in all parts of the country except the Midwest.
Construction tumbled 9 percent in September to a seasonally adjusted annual rate of 1.05 million units, the Commerce Department reported Wednesday. It was the slowest pace in 18 months. Construction had fallen 5.6 percent in August.
The weakness last month reflected a 38 percent drop in construction of apartments, which overshadowed an 8.1 percent rise in single-family construction.
Despite the two months of declines, home construction has been one of the bright spots in the economy this year. Builders have been scrambling to keep up with rising demand amid continued strong job gains and low mortgage rates.
The September performance was weaker than expected. Analysts had been forecasting a rebound. But they noted that the smaller apartment segment of construction is often volatile from month to month.
"Given the volatility of the multifamily sector, there is not enough in this report to suggest the steady uptrend in housing starts is changing yet," economists at Contingent Macro Research said in a research note.
Applications for building permits, a good sign of future activity, posted an increase of 6.3 percent in September. It was the biggest one-month gain since last November, pushing activity to an annual rate of 1.22 million units.
By region of the country, construction starts rose 6.6 percent in the Midwest, the only region showing a gain. Construction fell 31.5 percent in the Northwest, 15.6 percent in the South and 4.4 percent in the West.
A survey of builder sentiment on Tuesday showed that builders' confidence about the future eased back a bit this month after surging to the highest level in nearly a year in September.
Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Weekly Grind: 3D Jellyfish, Terra Cotta Solar, and Nervous Buildings
That master strategist Sun Tzu knew a thing or two about out-thinking the competition. Turns out his focus on strategy over strength can be applied to gaining an edge in the construction industry. ... Read More
If you're a construction worker, you're most likely working physical labor and it can get hot if you're working under the sun. Here's a guide for h... Read More
As an architectural statement, the campus is a monument both to Apple’s corporate success and centrality to the global tech culture. At 176 acres, ... Read More
August 8, 2016
"Some of the cool things that we're doing on job sites today are with Rovers and the alive platform. Alive is that software platform that glues to... Read More
The National Association of Women in Construction has a new executive vice president. This change marks a “brand new day and brand new way” for the... Read More
Every construction business owner can learn a lot from competitors. But merely copying them won't do. You will just always stay one step behind. So... Read More
We've selected eight women from all walks of life to ask them one common question: what advice would you give women who want to enter the construct... Read More