Canadian building permits surge in July

According to Statistics Canada, contractors took out building permits worth $8.0 billion in July, up 20.7 percent from June. The total value of building permits continued to trend upward on the strength of six gains in seven months. The increase in July came mainly from higher construction intentions for commercial buildings in Ontario, Alberta and Quebec. Total […]

U.S. construction spending highest in four years

The U.S. Census Bureau of the Department of Commerce has announced that construction spending during July, 2013, was estimated at a seasonally adjusted annual rate of $900.8 billion, which is the highest level reached since June, 2009. The current number is 0.6 percent above the revised June estimate of $895.7 billion., and is 5.2 percent […]

U.S. home prices continue to rise

NEW YORK, N.Y. — Data through June 2013, released  by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, showed that prices continue to increase. The National Index grew 7.1 percent in the second quarter and 10.1 percent over the last four quarters. The 10-City and 20-City Composites posted returns of 2.2 percent for […]

Canadian new home prices continue to climb

According to Statistics Canada, the New Housing Price Index (NHPI) in rose 0.2 percent in June, following a 0.1 percent increase in May. This continued a series of similar gains over the past 15 months. Calgary was the top contributor to the national advance for the fifth consecutive month, as prices for new homes rose 0.5 percent in June. Builders […]

Design contest now open

The 2014 National Kitchen & Bath Association (NKBA) Design Competition is now open for entries. Exclusive to NKBA members only, the annual competition offers an excellent opportunity to submit kitchen and bath projects that were installed between November 28, 2012, and August 30, 2013. In addition to receiving national industry recognition, over $50,000 in cash […]

Canadian home sales show highest growth since 2010

According to BMO senior economist Robert Kavcic, the latest data from the Canadian Real Estate Association show that the Canadian housing market remains balanced and well-behaved. Existing home sales rose for the fourth month in a row in June, posting a 3.3 percent seasonally adjusted gain from the prior month and down just 0.6 percent […]

Canadian housing starts remain steady

Housing starts in Canada were trending at 184,514 units in June compared to 184,087 in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts. “As expected, the trend in total housing starts remained essentially stable in June, for […]

Canadian building permits rise again

According to Statistics Canada, contractors took out building permits in Canada worth $7.3 billion in May, up 4.5 percent from April. The total value of building permits continued to trend upward on the strength of five consecutive monthly increases. The increase in May came mainly from the residential sector in Ontario and the non-residential sector […]

U.S. construction spending hits four-year high

The U.S. Census Bureau of the Department of Commerce has announced that construction spending during May, 2013, was estimated at a seasonally-adjusted annual rate of $874.9 billion, which is the highest level reached in almost four years and is 0.5 percent above the revised April estimate of $870.3 billion. The May figure is 5.4 percent […]

Canadian housing starts set for quick rebound

OTTAWA, Ont. — Canada Mortgage and Housing Corporation (CMHC) expects housing starts to regain momentum in the later part of the year and/or into 2014, as employment, economic growth and net migration are forecast to improve over the forecast horizon. Overall, total annual housing starts are expected to be lower in 2013 compared to 2012, mostly […]