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8/19/2022 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY July existing home sales fall for sixth consecutive month to annual rate of 4.81 million July existing-home sales fell for the sixth consecutive month to a seasonally adjusted annual rate of 4.81 million. Sales were down 5.9% from June and 20.2% from one year ago. The median existing-home sales price climbed 10.8% from one year ago to $403,800. That’s down $10,000, however, from last month’s record high of $413,800. The inventory of unsold existing homes rose to 1.31 million by the end of July,…

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Construction Labor Market Cools in June

Construction Labor Market Cools in June The construction labor market is cooling off as economic activity slows in response to tighter monetary policy, according to the latest job openings data from the Bureau of Labor Statistics. Read More NAHB https://www.nahb.org/blog/2022/08/construction-labor-market-cools-in-june

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June Job Openings and Monetary Policy Considerations

June Job Openings and Monetary Policy Considerations The construction labor market is cooling off as economic activity slows in response to tighter monetary policy per the latest job openings data. Read More Eye On Housing https://eyeonhousing.org/2022/08/june-job-openings-and-monetary-policy-considerations/

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Builders Rethink Future Plans

Builders Rethink Future Plans With fewer new homes coming to the market throughout this year and next, affordability will continue to plague the housing market as low inventory will keep prices from falling substantially… Read More Zillow https://www.zillow.com/research/july-housing-starts-31340/

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8/18/2022 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY Builder confidence slips 6 points to 49, lowest level since May 2020 Builder confidence in the market for newly built single-family homes fell six points in August to 49, marking the first time since May 2020 that the index fell below the key break-even measure of 50.  All three HMI components posted declines in August and each fell to their lowest level since May 2020.  Current sales conditions dropped seven points to 57, sales expectations in the next six months declined two points to…

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‘Electrify Arlington’ in Step With New Climate Law

‘Electrify Arlington’ in Step With New Climate Law The town has become one of 10 communities in Massachusetts that have secured local approval and have submitted home-rule petitions to make electrical power a requirement. Read More Your Arlington https://www.yourarlington.com/arlington-archives/town-school/environment/20652-electify-081522.html

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Architects Celebrate Climate Action and Community Investment in the Inflation Reduction Act

Architects Celebrate Climate Action and Community Investment in the Inflation Reduction Act The Inflation Reduction Act includes about $370 billion in energy and climate-related spending, making it the largest federal investment to combat climate change in history. Read More The American Institute of Architects https://www.aia.org/press-releases/6534285-architects-celebrate-climate-action-and-co

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Lightweight Solutions Are Changing the Construction Industry

Lightweight Solutions Are Changing the Construction Industry Lightweight construction materials also require fewer resources than concrete, steel or brick by brick construction. It helps to produce very energy-efficient buildings with a minimal CO2 footprint over their lifetime. Read More AZO Materials https://www.azom.com/article.aspx?ArticleID=21605

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