Sales of newly built, single-family homes in February edged 0.3% lower to a 662,000 seasonally adjusted annual rate, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Cost escalation will challenge construction firms, which will need to develop new processes and capabilities to keep costs under control and projects on track.
Glimpses of optimism are emerging in the construction and design industry, with some easing of interest rates and businesses reporting slight improvements in quarterly activity at the end of the year.
Construction input prices decreased 0.3% in November compared to the previous month, according to an Associated Builders and Contractors analysis of the U.S. Bureau of Labor Statistics’ Producer Price Index.
The Dodge Momentum Index (DMI), issued by Dodge Construction Network (DCN), decreased 1% in November to 179.2 (2000=100) from the revised October reading of 181.7. Over the month, the commercial and institutional components both fell 1%.