New construction in January 2024 started strong, with 6% growth over January 2023. This represents the 5th month in a row of positive YoY growth for new construction as the segment continues to rebound from a difficult 2023. In terms of annual growth, markets in the Southwest (+14%) and Southeast (+16%) drove were the primary growth drivers in the month, while midwest markets performed poorly (-9%). Turning to US renovations, the segments saw slightly negative YoY growth (-2%) in … Read More
A closer look at the Fed’s ‘wait and see’ strategy
The CPI came in at 3.1% in January, trending in the right direction yet 10-20 basis points higher than some a the Fed expected. And still 110 basis points away from hitting their ultimate 2% target. Speaking at the University of St. Thomas, Opus College of Business, Minneapolis, MN, Christopher … Read More
Construction During Covid-19
Dear Customers, We're reaching out to our clients to offer some perspective on the state of construction amid the COVID-19 crisis. First and foremost, we recommend transitioning any ongoing meetings that may have previously been face-to-face to video conferencing. We interact with hundreds of … Read More
Walkthrough Guide for Project Owners
How can I get the most out of a contractor visit? One of the most important parts of picking a contractor or architect is the site visit. (Throughout this article we use the word contractor but almost all of the below applies to meeting an architect as well.) The site visit serves many … Read More
Construction Bids: A Guide
You can think of a bid as a precursor to an agreement between you and your contractor — it lays out all of the items, labor, and prices that your contractor is committing to deliver. So getting bids — and reviewing them well — is a crucial part of hiring a contractor. Unfortunately, the process … Read More
BuildZoom and InterNACHI – Partnership Announcement
By BuildZoom
BuildZoom and InterNACHI are excited to announce a new partnership to provide exclusive access to BuildZoom’s database of over 185 million building permits for Residential and Commercial properties. This solution is being used by Property Inspectors as a reliable tool to reveal a property’s … Read More
What’s Up With Construction Costs?
After falling or remaining flat for three decades, real construction costs have increased sharply since the mid-2000s. The rise was driven by both material and labor costs. Construction costs are lowest in the South, and are highest in the expensive coastal cities and in remote locations like … Read More
Disparity In Departure: Los Angeles Region Supplement
This study was published jointly by BuildZoom and the Terner Center for Housing Innovation at UC Berkeley. Source: https://en.wikipedia.org/wiki/Coachella_Valley [dropcap]T[/dropcap]he Bay Area is undoubtedly at the forefront of a housing affordability crisis that is pricing a growing number … Read More
Eleven US Detention Centers Undergoing Major Upgrades
Incarceration rates are higher in the US than any other country worldwide and sixteen states have more prisoners than they have capacity for. Some states have responded by investing millions into renovating and expanding existing detention centers as well as building new facilities. Based on … Read More
Opportunity Zones: Implications for Real Estate Development
What is the Opportunity Zones program? When the Tax Cuts and Jobs Act was enacted in December 2017, a new program was created with the goal of spurring economic development in low-income communities struggling with inadequate capital inflows. The program — called Opportunity Zones — aims to … Read More
Disparity in Departure: Who Leaves the Bay Area and Where Do They Go?
This study was published jointly by BuildZoom and the Terner Center for Housing Innovation at UC Berkeley. Key Takeaways The San Francisco Bay Area exchanges people of all income levels with all parts of the country, but the origins and destinations of those coming and going differ … Read More