National Outlook

BLS: 178,000 JOBS ADDED IN NOVEMBER; 19,000 IN CONSTRUCTION

Employment bounces back following a lackluster jobs report in October. By Hanley Wood Data Studio The U.S. economy added 178,000 non-farm payroll positions in November, according to today’s monthly employment report released by the Bureau of Labor Statistics (BLS). This seasonally adjusted figure—a significant increase from October’s downward revised addition of 142,000 jobs—fell slightly short of …

The New Map for 30-Somethings

Geography, jobs, and housing through the lens of 2020 vision. By John McManus People forget. Demographics is glacial. We talk of surges, of waves, of tsunamis of new people and household patterns, but, by and large, demographics sculpts its changes in decades or scores of years, not this year, or next Spring selling season. So, what happens on a yearly basis, or in four-year increments, for instan …

TRUMP LIKELY TO BE A PLUS FOR CONSTRUCTION INDUSTRY

Dodge Data & Analytics researchers see Donald Trump’s election to president as a positive sign for building pros. By Jennifer Goodman The election of Donald J. Trump appears to be a welcome development for the U.S. construction industry, according to forecasters at Dodge Data & Analytics. With his background and experience in construction and real estate development, President-elect Trump …

View More

Local View

DENVER HOUSING 3Q16: Rising Costs and Demand Drives Prices to Record Levels

Robust activity earlier in the year has kept starts growing at year over year rate with annual starts up 24% to 10,563 homes – the highest level of starts since 2007 Homes with base prices above $400k now 
represent 67% of the market, and homes priced
 above $500k represent 27% – both all-time
 highs fueled by steady demand from move-up 
buyers coupled with rising land, development,
materials cost …

PHOENIX HOUSING 3Q16: The Market Continues to Normalize – Pressures on Affordability are Rising

Through 3Q16, Annual New Home Starts are up 28% YoY – Annual Closings are up 31% in the Same Period The Latest Tally of Under Construction Units was the Highest Witnessed since 2007 Affordability remains high compared to nearby California, which will help drive housing demand from out-of-state home buyers. Metrostudy’s survey of the Phoenix housing market shows that there were 16,612 total annual …

LOS ANGELES COASTAL HOUSING 3Q16: Affordability Pressures Increase – Rising Prices Push New Homes Out of Reach for Average Buyers

Annual New Home Starts ended 3Q16 up 24.2% YoY Constraints on the supply-side have accelerated price appreciation and decreased affordability. In the new home market, less than 30% of Los Angeles residents are able to afford an average priced new home Overall, we anticipate a stronger housing recovery in 2017. Job growth will lead to higher incomes, while mortgage rates remain near historical lows …

View More