Tag Archive for ‘construction’

Multifamily Production Falls Back to November Rate

The Census Bureau’s preliminary estimate of starts in buildings with five or more apartments for January came in at 260,000 (at a seasonally adjusted  annual rate).  As predicted in last month’s post, a rate well in excess of 300,000 proved too high to sustain.  In fact, the five-plus starts rate for December was revised upward, from 330,000 to 352,000—so the preliminary… Read More ›

Multifamily Production Rate Hits 4.5-Year High

In December, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments increased by 23 percent from the revised figure for November, to 330,000.  The November figure was revised down substantially, but the big news is that the rate of multifamily production continues to climb, even after the large improvements it made in September and October of 2012—to the point where,… Read More ›

Apartment Production Stable at 4-Year High

In November, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments was 285,000, according to the latest  release from the Census Bureau’s Manufacturing and Construction Division.   In the release this shows up as a 4,000 increase from October, but the five-plus starts rate for October was revised downward by 4,000; so the preliminary rate for November… Read More ›

Credit Still Tight, Although Builders Report Slight Improvement

Availability of new loans for acquisition, development, and construction (AD&C) has finally started to improve slightly, according to NAHB’s survey on AD&C financing for the third quarter  of 2012.  The overall net bank tightening index calculated from the AD&C survey dropped from +6.0 in the second quarter down to -4.3.  The way the index is constructed,  negative numbers indicate easing… Read More ›

Confidence in Multifamily Production Mostly Up in the Third Quarter, with Some Weakness in Low-Rent

The Multifamily Production Index (MPI), released by the National Association of Home Builders (NAHB), remained fairly steady in the third quarter of 2012 at 52—the third straight quarter the index has been over 50. The MPI measures builder and developer sentiment about conditions for apartment and condominium construction, and is are scaled so that any number over 50 means more… Read More ›

Production of New Apartments: Upward Trend Continues

In October, the previous month’s upward trend in multifamily production continued, as starts in buildings with five or more apartments came in at a (seasonally adjusted annual) rate of 285,000.  Although the line isn’t completely solid, buildings with at least five apartments are generally a reasonable way to draw a distinction between smaller “mom and pop” operations and  the province… Read More ›

Sources of Small Business Financing in the Construction Sector

According to recently-published data from the Census Bureau, businesses in the construction sector depend on multiple sources of capital for financing start ups and expansion plans, especially sources that are closely connected to the owner’s (or owners’) assets.  Furthermore, the data show that construction sector business owners tend to work long hours in order to keep their enterprises successful. The… Read More ›

Apartment Production Numbers Hit 4-Year Highs in September

In September, the (seasonally adjusted) annual rate of starts in buildings with five or more apartments was 260,000, according to the latest release from the Census Bureau’s Manufacturing and Construction Division.  This is up 25 percent from August, and the highest the five-plus starts rate has been since September of 2008.  To illustrate how far the market has come from the… Read More ›

Apartment Production Up Strongly Year Over Year

The Census Bureau’s preliminary estimate for starts in buildings with five or more apartments in July came in at  229,000 units (at a seasonally adjusted annual rate), up 9.6 percent from the revised figure for June (revisions to the May and June numbers were minor). The 3-month moving average has been very stable, hovering between 205,000 and 210,000 for the past… Read More ›

JOLTS Data: Growing Weakness for the Job Market

May data from the Job Openings and Labor Turnover Survey (JOLTS) confirm an ongoing slowdown in the labor market, with net hiring for the construction sector (residential and nonresidential) turning negative year-to-date for 2012. For the economy as a whole, the May JOLTS data reveal that hiring rates increased to 3.3%, one of the few pieces of good news in the report. The job openings rate (the… Read More ›