Tag Archives: Multi-Family

EC&M

Ongoing tariff situation, unstable business conditions, and the partial government shutdown could lead to further softening
  • Regional averages: Midwest (56.3), Northeast (51.6), South (49.4), West (49.2)
  • Sector index breakdown: institutional (53.1), commercial/industrial (51.2), mixed practice (50.2), multi-family residential (49.8)
  • Project inquiries index: 55.6
  • Design contracts index: 52.1

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U.S. housing starts approach 11-year high, permits weak

WASHINGTON (Reuters) – U.S. homebuilding surged to near an 11-year high in May amid an acceleration in both single-family and multi-family home construction, but a second straight monthly drop in permits suggested housing market activity would remain moderate.

Higher lumber prices as well as labor and land shortages have left builders unable to meet strong housing demand, which has depleted the number of properties available for sale. Housing demand is being fueled by the lowest unemployment rate in 18 years.

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