Delayed by 42 days because of the government shutdown, the Census presented their August construction spending report this week. The overall construction in August bounced back a bit, 0.2 percent, above the revised July estimate. However it is 1.6 percent below the August 2024 estimate. Looking at private construction projects, spending rose 0.3% in August compared to July. Residential construction remains in the positive, with a reported 0.8% increase in investment. However a report from Reuters suggested, “But outlays on new single-family housing projects dropped 0.4%. Spending on multi-family housing…
Read MoreDay: November 19, 2025
2026 U.S. Labor Market Outlook
New data from HireQuest indicates that the 2026 labor market is moving toward stability after several years of rapid swings in hiring trends. Survey results from more than 400 offices show that time-to-fill rates have largely steadied, job applications remain consistent and employers are leaning more heavily on flexible hiring models like contract and fractional roles. The market is shifting toward skill-based hiring, with companies emphasizing flexibility, job fit and roles that cannot be automated. Trends such as reshoring, easing tariffs and advancements in AI-driven recruiting are also influencing demand,…
Read MoreThe State of the Construction Economy: What to Expect in 2026
The construction industry is heading into 2026 with uncertainty, but also with growing opportunities in reconstruction, adaptive reuse and major technology-driven projects. While high mortgage rates, rising materials costs and labor shortages continue to challenge builders, activity is shifting toward redevelopment of aging buildings and creating new housing through conversions and ADUs. Economists note that trends like office-to-residential conversions and reconstruction work are becoming essential strategies as traditional residential demand softens. At the same time, long-term volatility in interest rates and tariffs continues to influence costs and delay projects, reinforcing…
Read MoreDesign trends popular for the last half of 2025
Designers report the market is shifting away from the neutral minimalist color schemes and design trends as we wrap up 2025. Melissa Dittmann Tracey from the The National Association of Realtors shares her insight on where these trends are heading. First she indicates that the market will gravitate towards layered textures like boucle, grasscloth, plaster, zellige tile, fluting and handcrafted details. “Texture can adds warmth, depth and subtle dimension to spaces,” said Tracey. “It also adds personality, welcoming homeowners to reach out and touch.” The pendulum of style is greatly…
Read MorePrice Cuts on New Construction as Homebuilder Sentiment Remains Low
Homebuilders are increasingly turning to price cuts and incentives as economic uncertainty continues to weigh on buyer demand. In November, 41% of builders reduced prices, the highest share in five years, while nearly two-thirds used additional incentives such as mortgage-rate buy-downs. Builder confidence remains weak, held back by high inflation, volatile mortgage rates and lingering effects of the prolonged government shutdown, which disrupted key economic data releases. Industry leaders note that even with mortgage rates easing slightly, many buyers remain hesitant due to job-market concerns and broader financial uncertainty. As…
Read MoreRemodeling rising to the top of the residential construction market
Remodeling activity including firms and employment is growing in the residential construction market. The National Association of Homebuilders (NAHB) analyzed the quarter-century of Quarterly Census of Employment and Wages (QCEW) data and found that the rise of remodelers is not a a short term trends, but a possible market shift. As the U.S. housing economy is currently unfavorable for middle class homeowners looking for starter or move-up homes. Life still happens to homeowners for example welcoming a child or need for multigenerational living, therefore the demand is there for more…
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