January Construction Statistics

 

Here are the figures for the month of January 2010. Let’s put our tools to use and build, build, and build!!

Feb 17 Building Permits - The number of building permits issued in January fell from December to a seasonally adjusted annual rate of 621,000. Permits are still up 16.9% year-over-year. While multi-family building permits plummeted 26%, single-family permits were up 0.4% during the month.

Housing Starts – Construction of new homes climbed to an annual rate of 591,000 during January, up 21.1% from a year ago. The rise was attributed to decreased new home supply. Export and Import Prices – Import prices increased in January by 1.4%, largely due to higher fuel prices. Prices for non-fuel imports rose 0.4% for the month. Export prices rose 0.8% in January following a 0.6% rise in December.

Construction Industry To Rebound In 2010

 

 

The nation’s construction industry should see modest gains next year, according to the WSJ. This could be due to a rise in single family houses, apartment buildings, and highways and bridges. The increase in these areas will offset drops in commercial and manufacturing property. New development in commercial construction will be dragged down by high unemployment and tight credit markets. 2009 was tough for construction, with the value of starts expected to plunge 25% to $419 Billion.

Next year, starts are expected to climb 115 to $466.s billion, according to McGraw-Hill. Construction starts indicate future construction spending and often correlate strongly with actual spending.

Single family housing should come in at $162.s billion, a 30% boost to 560,000 units, provided that mortgage rates remain low, the $8000.00 tax credit for first time buyers is extended and programs to ease the foreclosure crisis help homeowners, the survey states.