New Construction Starts in December Pull Back 16 Percent; Annual Total for 2014 Advances 7 Percent to $575.3 Billion
Source: Dodge Data & Analytics
New construction starts in December retreated 16% to a seasonally adjusted annual rate of $568.2 billion, according to Dodge Data & Analytics. The decline follows the 13% increase reported for total construction starts in November, when activity reached its highest level in 2014 with the lift coming from several exceptionally large projects, including a massive lithium ion battery manufacturing plant, an airport terminal redevelopment program, and a liquefied natural gas terminal. Both nonresidential building and nonbuilding construction in December witnessed substantial percentage declines relative to their robust November amounts. At the same time, residential building managed a modest gain in December with the help of further growth by multifamily housing. For 2014 as a whole, total construction starts climbed 7% to $575.3 billion. This continues the pattern of moderate expansion for total construction starts reported during the previous two years – 2012, up 10%; and 2013, up 9%.
Source: Window & Door
The Window and Door Manufacturers Association predicts continued growth for the architectural door market through 2015 in its Architectural Door 2014 U.S. Market Study released Sept. 2. The study, prepared, researched and analyzed by Metrostudy and the Virginia Center for Housing Research at Virginia Tech, forecasts strong market growth in the wood flush door market of nearly 24 percent for 2014 and 22 percent for 2015. This follows market growth of 17 percent in 2013.
Builder confidence in the market for newly built, single-family homes rose one point to 47 in April from a downwardly revised March reading of 46 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today.
Source: Woodworking Network
Ninety percent of North American home builders, architects, remodelers, landscape professionals and interior designers surveyed on Houzz expect revenue to grow in 2014 according to the first “Houzz Residential Design & Renovation Outlook” report based on data provided by more than 6,500 service providers on Houzz. From one-person shops to large firms, pros are bullish on growth, with sole proprietor architects slightly less confident than average, though still strong at 85 percent. Houzz, the world’s leading platform for home remodeling and design, also found that larger companies – those with six employees or more – reported a stronger 2013 and were more bullish about revenue growth this year.
Source: Glass Magazine
The basics: An undulating façade of curved glass highlights the 21-story, 750,000-square-foot SickKids Research Tower in downtown Toronto. The project was built to combine science, discovery and learning programs with the organization’s clinical operations. The building, completed in 2012, is now the tallest laboratory in Canada. Diamond Schmitt Architects’ design intent was to further invigorate the workspace by natural light entry, thus necessitating more vision glass than a typical office building.