Source: DWM Magazine
A global construction boom and a growing emphasis on “green” building technologies will create strong opportunities for U.S. exporters of building products, including manufacturers of doors, windows and glass.
Prices for inputs to construction industries expanded 0.2 percent in June after increasing 1.1 percent in May. Year-over-year prices were down 2.2 percent in June and prices have not increased on an annual basis for the past seven months. The last time this occurred was the third and fourth quarter of 2009 when the global economy was still reeling from the financial crisis; however, June’s year-over-year decline in construction input prices was the smallest of 2015. Prices of inputs to nonresidential construction industries rose 0.3 percent on a monthly basis, but are down 3.6 percent on a yearly basis.
Sales of newly built, single-family homes rose 2.2 percent to a seasonally adjusted annual rate of 546,000 units in May, according to newly released data from HUD and the U.S. Census Bureau. This is the highest new-home sales rate since February 2008.
Don’t Be Misled by the “Drop” in Housing Starts: Some Markets are Showing Large Increases in Homebuilding
Source: Masonite International Corp.
Masonite International Corp. announced that it has received a binding offer from Perceva, a Paris-based independent investment firm, to acquire Premdor S.A.S., Masonite’s French door business. Pursuant to the offer, Masonite has the right to sell Premdor S.A.S. to Perceva on the terms included in the offer. Masonite has agreed with Perceva to an exclusivity period related to the potential sale.
Nationwide housing starts dropped 11.1 percent to a seasonally adjusted annual rate of 1.036 million units in May from an upwardly revised April reading, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department. Overall permit issuance rose 11.8 percent to a rate of 1.275 million, the highest level since August 2007.
The trend measure of housing starts in Canada was 181,231 units in May compared to 179,524 in April, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Median home prices in some markets are continuing to rise steadily because of slow wage growth, slow economic growth after the recovery, and limited supply, according to a CNN/Money report.
West Realty Advisors took a look at home prices from 2008 to 2015 to identify which cities had high prices that were way past pre-recession levels to come up the top 10 markets with overpriced houses.