Single-family housing starts posted a double-digit percentage gain in December, but production is running well below a rate of 1 million units annually, indicating ongoing weakness in the housing market as high construction costs and elevated interest rates continue to present affordability challenges.

The responses about mental health reveal an industry still seeking to fully engage with this issue, with only 34% of contractor respondents reporting that staff at their company have good access to resources that help address mental health issues.

Plunging prices for diesel fuel, lumber, and steel cooled inflation for materials and services used in construction in December, but relief may be short-lived. 

The National Association of Home Builders (NAHB) released its NAHB/Westlake Royal Remodeling Market Index (RMI) for the fourth quarter, posting a reading of 66, declining 17 points compared to the fourth quarter of 2021.

Paul Murfin, president, Taylor Adhesives, provided an analysis of the industry's business climate going into 2023 in the "Setting Strong Goals" episode of Taylor Time Live.

Construction firms added 28,000 employees in December and continued to raise wages for hourly workers more than other sectors as the industry’s unemployment rate fell to a record low for the month, according to an analysis by the Associated General Contractors of America of new government data.

Total construction spending increased by 0.2 percent in November, dragged down by a lack of new infrastructure projects along with a continuing slide in homebuilding, according to an analysis of federal spending data released by the Associated General Contractors of America.

Pending home sales slid for the sixth consecutive month in November, according to the National Association of Realtors. All four U.S. regions recorded month-over-month decreases, and all four regions saw year-over-year declines in transactions.

While new home sales received a slight bounce in November from moderating mortgage rates, the housing market continues to struggle because of ongoing supply chain disruptions, elevated construction costs and challenging affordability conditions.

Construction employment increased in 268 of 358 metro areas between November 2021 and November 2022, according to an analysis by the Associated General Contractors of America of new government employment data.