Wall Street rose Thursday with hopes that the Federal Reserve may soon take it easier on its hikes to interest rates. The Standard & Poor’s 500 rallied 1% after a suite of reports painted a picture of a split U.S. economy. The job market remains solid, but manufacturing is weakening and retailers are seeing shoppers
While national home prices did increase in May 2023, the rate at which it grew was the lowest on record since 2016. According to the Monthly Housing Trends Report, published by Realtor.com, found that May’s home price growth slowed to 0.9% year-over-year as active inventory decreased in 21 out of the 50 largest metropolitan areas.
In what could be a glimpse of future as climate change batters the West, officials ruled there’s not enough groundwater for projects already approved. Arizona has determined that there is not enough groundwater for all of the future housing construction that has already been approved in the Phoenix area, and will stop developers from building
Dive Brief: Finland-based Admares, an industrialized manufacturer of buildings and homes, plans to invest $750 million into its first U.S. manufacturing facility in Waycross, Georgia, according to a company press release. The 2.5-million-square-foot mega factory will focus its production on the housing sector, with operation expected to begin in late 2025. Admares has not yet
In the first four months of 2023, construction spending was 6.1% higher than it was over the same period last year. Construction spending rose 1.2% in April, increasing for the second month in a row, though high mortgage rates are weighing down on construction of single-family homes which, ideally, should be in demand amid a lack
U.S. subcontractors are heading into the second half of 2023 facing a mixed bag of issues. Inflation costs and labor availability add persistent pressure, and pandemic-induced supply chain issues haven’t entirely resolved. But most subs had business revenue growth in 2022 and expect growth this year. That’s what Billd, an Austin, Texas-based construction financial support
June 1 (Reuters) – U.S. central bankers should not raise interest rates at their next meeting, Philadelphia Federal Reserve President Patrick Harker said on Thursday, even though high inflation is coming down at a “disappointingly slow” pace. “It’s time to at least hit the stop button for one meeting and see how it goes,” Harker