Michael Malcanas’ Post

Multifamily construction spending slide continues The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in October was up 0.16 percent from the revised level of the month before. Spending on single-family residential construction was reported to rise 0.79 percent while spending on improvements was up 2.7 percent. Read More>>> https://buff.ly/41kBlg2 #Insulation #ConstructionNews #CommercialInsulation #MultiFamilyConstruction #ApartmentConstruction

The U.S. Census Bureau released their August 2024 New Residential Construction data, which revealed construction starts declining and completions elevating. Here are some additional findings:   - Multifamily Starts (5+ units): The Seasonally Adjusted Annual Rate (“SAAR”) of starts was 333K, down 45% from its peak in April 2022.   - Completions: August 2024 saw the highest completions in the past decade at a SAAR of 740K units, more than double the ten-year average of 366K units.   - Units Under Construction: Peaked in July 2023 at a SAAR of 1,004,000 units. As of August 2024, this is down 15% to 850K units. The ten-year average is 682K.   Learn more: https://lnkd.in/eCCmG8Mn.   #ConstructionStarts #USCensus #ResidentalConstruction #Multifamily

The Census Bureau releases its report on New Residential Construction each month which offers 3 key metrics: building permits, housing starts, and housing completions. https://lnkd.in/e_gfzXw9

April 16, 2024 ‐ The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for March 2024: Privately‐owned housing starts in March were at a seasonally adjusted annual rate of 1,321,000. This is 14.7 percent below the revised February estimate of 1,549,000 and is 4.3 percent below the March 2023 rate of 1,380,000. Single‐family housing starts in March were at a rate of 1,022,000; this is 12.4 percent below the revised February figure of 1,167,000. The March rate for units in buildings with five units or more was 290,000. #CapitalFundingNW #TheFundingMachine #housing #residential #interestrates #construction

The trend towards concrete construction is ever so slightly starting to turn. More builders are looking for ways to build resilient homes in regional environments with increased risk from natural disasters. We continue to see growth in both resilient and energy efficient construction. Its a good thing concrete and Insulated Concrete Forms can bring both benefits to the equation. Lets build better! #buildblock

HOUSING STARTS / BUILDING PERMITS, May 2024 The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential construction statistics for May 2024: Privately‐Owned Housing Units authorized by building permits in May were at a seasonally adjusted annual rate of 1,386,000 --- 3.8 percent below the revised April rate of 1,440,000 and is 9.5 percent below the May 2023 rate of 1,532,000. Single‐Family Authorizations in May were at a rate of 949,000 --- 2.9 percent below the revised April figure of 977,000... #housingstartsmay2024 #buildingpermitsmay2024

Total construction and multifamily spending increased YOY in April. The latest report by the Census Bureau notes that total construction spending dipped -0.1% in April, month-over-month, but jumped +10% YOY. Total private residential construction spending increased +0.1% month-over-month, coming in at a seasonally adjusted annual rate of $890.4 billion in April. On a YOY basis, the metric increased +8.0% YOY. New SFR construction led with +0.1 over March and 20.4% YOY. New multifamily spending dipped -0.3% month-over-month, but increased +2.3% YOY. Data Source: U.S. Census Bureau #Capstone #LandSales #CRE #Multifamily

Wood framing remains the most dominant construction method for completed single-family homes in the U.S., according to NAHB analysis of 2023 Census Bureau data. For 2023 completions, 93% of new homes were wood-framed, another 7% were concrete-framed homes, and less than half a percent were steel-framed. https://lnkd.in/esKYYmUm

Ready Frame will be huge in the next couple years

🏗️ A surge in multifamily construction pushed U.S. housing starts up 3% in June to a seasonally adjusted annual rate of 1.35 million units, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Multifamily sector construction rose an impressive 19.6%, while single-family starts dipped 2.2% for the month. #HousingMarket #MultifamilyConstruction #RealEstate #USHousing #EconomicTrends