New Construction Softens in March With Permits Down 8.8%
Housing starts were 1.42 million, compared with the revised upwards of 1.32 million. Permits fell to 1.413 million, down from a revised upwards of 1.55 million in February. Builders have…
Fed’s Powell to Testify to Congress as New Housing Construction Surges
Powell will deliver his twice-yearly economic and monetary policy report to the House Financial Services Committee on Wednesday, then repeat his remarks to the Senate Banking Committee on Thursday. The…
US Nuclear Regulators to Issue Construction Permit for a Reactor That Uses Molten Salt
The U.S. Nuclear Regulatory Commission has issued a permit for a new type of nuclear reactor that uses molten salt to cool the core. The NRC has issued a permit…
Suspends Construction, Demolition Work in Delhi as Air Worsens
A government agency said that India had suspended all construction and demolition in and around Delhi after the air quality deteriorated. It was predicted to get worse due to calmer…
New Construction Falls More Than Expected in November
The Census Bureau and Department of Housing and Urban Development reported on Tuesday that new construction declined more than expected, continuing a series of poor performances as mortgage rates have…
New Construction Surprises to the Upside in October
Census Bureau and the Department of Housing and Urban Development released a report that showed permit issuance had increased by 1.1% to 1.487 million annually, compared to 1.471 in September.…
Mumbai Issues Guidelines to Construction Industry Amid Worsening Air Quality
Mumbai, India’s financial center, has ordered construction sites to install barricades. It also banned open-air burning of garbage to improve air quality. Two days earlier, Swiss group IQAir rated Mumbai…
New Home Construction Cools Slightly in June After Strong May
Housing starts fell 8% to a level of 1,43 million annualized, a bit below the estimates of 1,49 million. This was after a very strong May, which was revised down…
New Home Construction Tumbles in August
Housing starts dropped 11.3% to a rate of 1,28 million in August, the lowest level since summer 2020. However, building permits increased by 6.9% from month to month, reaching a…
New Construction Surges in February
The number of permits increased 13.8% to an annualized rate of 1.5 million. January’s numbers were revised upwards. The number of building starts rose 9.8% from 1.32 million to 1.45…