Newsletter Archives - Residential Contractor

12/3: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY Initial unemployment claims rebound 28,000 In the week ending November 27, initial unemployment claims were 222,000, an increase of 28,000 from the previous week’s revised level. Continued claims during the week ending November 20 were 1,956,000, a decrease of 107,000 from the previous week’s revised level. This is the lowest level for insured unemployment since March 14, 2020 when it was 1,770,000. The total number of continued weeks claimed for benefits in all programs for the week ending November 13 was 2,306,353, an increase…

12/2: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY Construction spending up 0.2 percent in October and 8.6 percent year-on-year Construction spending during October 2021 was estimated at a seasonally adjusted annual rate of $1,598.0 billion, up 0.2 percent from September and 8.6 percent year-on-year. During the first ten months of this year, construction spending amounted to $1,323.1 billion, 7.5 percent above same period in 2020. https://www.census.gov/construction/c30/pdf/release.pdf Growth in September Case-Shiller Index decelerates to 19.5 percent year-on-year The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S….

Gov. Hochul Announces Start of Construction on $21M Affordable and Supportive Housing Development

Gov. Hochul Announces Start of Construction on $21M Affordable and Supportive Housing Development The development will create 60 homes, including 30 reserved for adults in need of supportive services, in the town of Ballston in Saratoga County. Read More NY.gov https://www.governor.ny.gov/news/governor-hochul-announces-start-construction-21-million-affordable-and-supportive-housing

Nicol Investment Company Acquires Luxury Apartment Community in Daytona Beach

Nicol Investment Company Acquires Luxury Apartment Community in Daytona Beach The firm based in Nashville, Tennessee, announced the acquisition of Madison Pointe, a 240-unit garden-style apartment community. The purchase price was $68.5 million. Read More Citizen Tribune https://www.citizentribune.com/news/state/nicol-investment-company-acquires-luxury-apartment-community-in-daytona-beach/article_3c313249-7921-58f1-9822-3f59cc1d6057.html

Can New York Get to 100% Clean Energy by 2040?

Can New York Get to 100% Clean Energy by 2040? Clean power supply is being generated in upstate New York, but it is not making its way to New York City, the area that relies most heavily on power from fossil fuels. Read More New York Times https://www.nytimes.com/2021/11/29/nyregion/hochul-electrical-grid-climate-change.html

Builders, Investors Cash in on Red-Hot Rental Market as Home Prices Climb

Builders, Investors Cash in on Red-Hot Rental Market as Home Prices Climb Homebuilders and investors are looking at built-to-rent houses to cash in on frustrated homebuyers. Read More Newsweek https://www.newsweek.com/builders-investors-cashing-red-hot-rental-market-home-prices-climb-1653157

11/30: MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY Pending home sales up 7.5 percent in October but down 1.4 percent year-on-year The Pending Home Sales Index (PHSI) rose 7.5% to 125.2 in October. Year-over-year, signings fell 1.4%. According to NAR’s Chief Economist Lawrence Yun, “The notable gain in October assures that total existing-home sales in 2021 will exceed 6 million, which will shape up to be the best performance in 15 years.” https://www.nar.realtor/newsroom/pending-home-sales-jump-7-5-in-october Personal spending rises at nearly three times the increase in personal income in October In October, personal income…

Wrapping 2021 and Looking Ahead

Wrapping 2021 and Looking Ahead Wellness, technology and a connection to nature saw a rise in kitchen and bath design this year and expected to continue in 2022. Read More Kitchen and Bath https://www.kitchenbathdesign.com/wrapping-2021-and-looking-ahead/

Manufactured Home Construction Projected to Hit 15-year High

Manufactured Home Construction Projected to Hit 15-year High Alternative to on-site building angling as potential housing crisis solution. Read More The Real Deal https://therealdeal.com/2021/11/22/manufactured-home-construction-projected-to-hit-15-year-high/

How to Encourage Women to Join the Construction Industry

How to Encourage Women to Join the Construction Industry According to an NAHB analysis, women make up only 10.9% of the construction workforce. Read More NAHB Now https://nahbnow.com/2021/11/how-to-encourage-women-to-join-the-construction-industry/?_ga=2.114147844.2040133031.1637773166-1573968838.1630338029