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…
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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…
Read MorePutting Building Science into Practice
Building science expert Allison Bailes III, PhD—founder of Energy Vanguard and author of A House Needs to Breathe…Or Does It?—has long been known for educating professionals and homeowners about how buildings truly function. Recently, Bailes applied his own research to a personal project: retrofitting his 1961 home in Atlanta, Georgia. The renovation allowed him to test innovative building products, such as InSoFast insulation panels, inverter-driven Mitsubishi heat pumps, air quality monitors, and bio-based spray foam insulation. Each choice reflected his core principle that any product must align with sound building…
Read MoreSustainable and wood-based market to expand
The global facade materials market, exterior building materials, is increasing in demand fir sustainable and wood-based solutions. This is driving incredible growth expected throughout 2035. According to Future Market Insights (FMI), the market is valued at USD 272.0 billion in 2025. This is predicted to grow to USD 565.8 billion by 2035 with a compound annual growth rate (CAGR) of 7.6%. Currently, wood dominates the market with 36.9% revenue share in 2025. It is applauded for its consistency throughout the market, natural appeal, renewability and engineered enhancements. While metal, glass,…
Read MoreHardwood companies seek relief from Trump tariffs
As the Trump administration pledges financial relief for soybean farmers following the government shutdown, Kentucky’s hardwood lumber industry is also seeking aid after years of struggle tied to international trade tensions. At GreenTree Forest Products in Wallingford, a small family-run sawmill that employs 90 people, business has slowed dramatically. Falling lumber prices, reduced demand from homebuilding and bourbon industries and volatile trade policies have all cut into profits. Since 2018, when China imposed 25% retaliatory tariffs on U.S. hardwoods, exports have plummeted, devastating mills that relied heavily on overseas buyers.…
Read MoreChris Beard presents his insights into the remodeling industry
Chris Beard the Vice President of Building Products Research at John Burns Research and Consulting presents his outlook on the remodeling industry. At an event at at GlassBuild America in Orlando, his advice is a steading tone across the industry. In his opening remarks he acknowledges that this year presented challenges and was, ‘bumpy.’ Despite this and factors of consumer confidence and housing affordability, he expects household formation to increase. He cites those in the 70+ age group who are looking to age in place. This is complemented by those…
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