10/29: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY 2Q21 GDP rose at 2.0 percent in first estimate Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the third quarter of 2021, according to the “advance” estimate. In the second quarter, real GDP increased 6.7 percent. The “second” estimate for the third quarter, based on more complete data, will be released on November 24, 2021. https://www.bea.gov/news/2021/gross-domestic-product-3rd-quarter-2021-advance-estimate   Initial unemployment claims dip another 10,000 to 281,000 In the week ending October 23, initial unemployment claims were 281,000, a decrease…

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Builders Report Worst Lot Shortage Ever

Builders Report Worst Lot Shortage Ever An NAHB survey finds 76% of builders reported the overall supply of developed lots in their areas was decreasing. Read More NAHB https://nahbnow.com/2021/10/builders-report-worst-lot-shortage-ever/?_ga=2.56583531.1364291619.1635437672-834675246.1634239597

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Low Inventory Leads to Solid Gains in New Home Sales

Low Inventory Leads to Solid Gains in New Home Sales Fueled by strong demand, low existing inventory and buyers’ anticipation of future higher mortgage rates, new home sales posted a solid gain last month… Read More NAHB https://nahbnow.com/2021/10/low-inventory-leads-to-solid-gains-in-new-home-sales/?_ga=2.49011685.257530032.1635270783-1573968838.1630338029

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Higher Lumber Prices Expected to Continue Into 2022

Higher Lumber Prices Expected to Continue Into 2022 High lumber prices are back, and the projections are that it will continue to rise into next year. Read More Woodworking Network https://www.woodworkingnetwork.com/news/woodworking-industry-news/higher-lumber-prices-expected-continue-2022

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10/28: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY New home sales rise 14.0 percent in September but down 17.6 percent year-on-year Sales of new single‐family houses in September 2021 were at a seasonally adjusted annual rate of 800,000, up 14.0% from August but down 17.6% year-on-year. The seasonally‐adjusted estimate of new houses for sale at the end of September was 379,000. This represents a supply of 5.7 months at the current sales rate, down from 6.5 months in August but up from 3.5 months in September 2020. The median sales price rose…

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Key Trends and Opportunities in the U.S. Construction Market to 2025

Key Trends and Opportunities in the U.S. Construction Market to 2025 The US construction industry is forecast to grow by 1.8% in 2021 and 3.7% in 2022, before it registers an annual average growth of 3.7% over the remainder of the forecast period. Read More Yahoo! https://finance.yahoo.com/news/key-trends-opportunities-u-construction-100200828.html

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BIG and ICON Team Up Once Again On a 3D-Printed Hundred-Home Design

BIG and ICON Team Up Once Again On a 3D-Printed Hundred-Home Design The homes will be produced via ICON’s Vulcan 3D printer technology and touted as providing more longevity than traditional concrete masonry housing… Read More Archinet https://archinect.com/news/article/150286465/big-and-icon-team-up-once-again-on-a-3d-printed-hundred-home-design-for-texas-rapidly-changing-state-capital

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3D-Printed Houses Poised to Go Mainstream

3D-Printed Houses Poised to Go Mainstream Developers of 3D-printed homes think they can take on multiple challenges: the affordable housing crisis, the shortage of skilled labor and rising material costs… Read More Axios https://www.axios.com/3d-printed-houses-homes-sustainability-affortable-housing-406555c2-9c51-4ff5-b9c4-affcc6805e49.html

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