Pending home sales crept higher in May, ending a six-month streak of declines, according to the National Association of Realtors.

Rapidly rising hourly earnings enabled the construction industry to add 36,000 employees in May, but a record number of job openings going into the month suggests contractors want to hire even more workers, according to an analysis by the Associated General Contractors of America of new government data.

The Dodge Momentum Index (DMI) jumped 7% in May to 176.2 (2000=100), up from the revised April reading of 165.2. In May, the institutional component of the Momentum Index rose 9%, and the commercial component increased 6%.

Construction employment exceeded pre-pandemic levels in 32 states in April, according to a new analysis of federal employment data released by the Associated General Contractors of America.

Existing-home sales recorded a third straight month of declines, slipping slightly in April, according to the National Association of Realtors. 

The single-family housing market continued to show signs of slowing in April as rising mortgage rates and ongoing supply chain disruptions continue to raise housing costs and take a toll on the housing market.

Civil contractors continue to be optimistic about their business prospects in the 1Q2022 survey published in the latest edition of The Civil Quarterly (TCQ) from Dodge Construction Network.

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the new residential sales statistics for March 2022.

Pending home sales dropped in March, signifying five straight months that contract activity has declined, according to the National Association of Realtors.