The NAHB /Wells Fargo Housing Market Index continues its decline, down to its lowest level since August 2020. Ongoing supply and material price challenges have driven the latest NAHB/Wells Fargo Housing Market Index down two points to 81 in June, the lowest reading for the index since August 2020. Despite this decline, the NAHB notes …
by Hummingbird Group
Seasonally adjusted construction employment in May totaled 7,423,000. Construction employment declined for the third time in the past four months in May as nonresidential contractors coped with lengthening and unpredictable delivery times that limited their ability to start or complete projects, according to an analysis by the Associated General Contractors of America of government data …
by Hummingbird Group
Lumber industry veteran Kyle Little told CNBC on Tuesday that it’s a sensible decision to hold off on beginning discretionary building projects due to high wood costs. “The jobs that you have coming up, don’t expect us to go back to what we saw the previous 10 years. That being said, if you can wait, …
by Hummingbird Group
The construction industry has a reputation for resisting technology adoption, but decision makers are quickly realizing that it is inevitable. As construction requires so many moving parts and partners, more and more companies are embracing digital transformation to coordinate their people and streamline business operations, which means pushing analog systems to the side for good. …
by Hummingbird Group
Dive Brief: Republican Pennsylvania state Sen. Kristin Phillips-Hill has proposed legislation that would require state agencies in charge of evaluating contractor bids to take into consideration “well-documented evidence of change order scheming.” Delays and higher-than-expected costs on the Mount Rose I-83 Interchange project in York County, Pennsylvania, are the drivers behind Phillips-Hill’s proposal. The project, …
by Hummingbird Group
The pace is fast and capital abundant, allowing builders access and benefits in a variety of innovative ways. Speaking with private equity groups and learning of their new housing initiatives, I’m enthusiastic and amazed by what I’m hearing. The pool of private equity funds jumping into the home building industry is staggering. Enormous funds are …
by Hummingbird Group
Philadelphia Museum of Art opened to the public earlier this month after completing an extensive four-year renovation and interior expansion project led by Frank Gehry. The intervention, dubbed the Core Project, focused on renewing the museum’s infrastructure, creating galleries and public spaces while leaving the 1928 exterior untouched. The culmination of two decades of planning …
by Hummingbird Group
The Treasury Dept. has begun to take applications from state and local governments for the $350 billion that the American Rescue Plan Act earmarks to help them recover from the coronavirus pandemic, the department announced on May 10. Among the many eligible uses for the funds are “water, sewer and broadband infrastructure,” according to the …
by Hummingbird Group
Which digital home technologies offer builders the best return on investment in 2021? Home tech is a wild card. Countless gadgets hit the market every year but many of them quickly disappear. For a production builder, deciding what technologies to make standard can feel like a bet on a Vegas roulette wheel. Fortunately, a few …
by Hummingbird Group
Populous is designing the project. Nerd Street Gamers, an esports infrastructure company, has selected Populous to lead its national rollout of Localhost gaming centers. The concept is a first of its kind that will bring localized gaming centers, which are open to the public, to cities across the country. The rollout will start with the …
by Hummingbird Group