Confidence in the market for new multifamily housing declined year-over-year in the first quarter of 2024, according to results from the Multifamily Market Survey (MMS) released by the National Association of Home Builders (NAHB).
The Dodge Momentum Index (DMI), issued by Dodge Construction Network, increased 6.1% in April to 173.9 (2000=100) from the revised March reading of 164.0. Over the month, commercial planning improved 12.6% and institutional planning dropped 6.3%.
Interface, Inc., a worldwide commercial flooring company and global leader in sustainability, announced results for the first quarter ended March 31, 2024.
The report details the company’s progress toward its 2030 goal to optimize all products in alignment with Cradle to Cradle design principles and showcases Shaw’s commitment to creating a better future.
The Tile Council of North America, Inc. reported that the U.S. ceramic tile consumption in 2023 was 2.85 billion sq. ft., down 7.3% from the previous year.
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.
A lack of existing inventory that continues to drive buyers to new home construction, coupled with strong demand and mortgage rates below last fall’s cycle peak helped push builder sentiment above a key marker in March.
Cost escalation will challenge construction firms, which will need to develop new processes and capabilities to keep costs under control and projects on track.
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