Latest Construction sector performance News

FILE - In this April 1, 2020 photo, a

Sales of new homes surge 4.8% in August

Sep. 24, 2020 12:11 PM EDT

NEW YORK (AP) — Demand for new homes continues to surge despite an ongoing pandemic and lingering anxiety about the U.S. economy. The pace of sales have now reached levels last seen before the Great Recession in 2006. Sales new homes in August rose by a very strong 4.8% to a seasonally-adjusted annual...

Sales of new homes rise 4.8% in August to 1.01 million unit annual rate

Sep. 24, 2020 10:04 AM EDT
WASHINGTON (AP) — Sales of new homes rise 4.8% in August to 1.01 million unit annual rate.
Workers toil on a multifamily dwelling Tuesday, Aug. 4, 2020, in Winter Park, Colo.   The Commerce Department reported Tuesday, Aug. 18, construction of new U.S. homes surged 22.6% last month as homebuilders continued to bounce back from the coronavirus pandemic.  (AP Photo/David Zalubowski)

August US home building slides 5.1% after months of gains

Sep. 17, 2020 10:01 AM EDT

WASHINGTON (AP) — U.S. housing construction fell a surprising 5.1% in August after three months of strong gains when home builders ramped up projects following a pandemic-induced shutdown in March and April. New homes were started at a seasonally adjusted annual pace of 1.42 million last month after a...

This Week: FedEx earns, Fed policy statement, housing starts

Sep. 14, 2020 1:10 AM EDT

A look at some of the key business events and economic indicators upcoming this week: DELIVER THIS Wall Street expects that FedEx’s latest quarterly report card will show mixed results. Analysts predict the package delivery company will report Tuesday that its fiscal first-quarter earnings declined from a...

FILE - In this Sept. 3, 2019 file photo a sign rests in front of a newly constructed home, in Westwood, Mass. U.S. average rates on long-term mortgages changed little this week, remaining at historically low levels that has sparked demand for homes.  (AP Photo/Steven Senne, File)

US long-term mortgage rates little changed; 30-year at 2.93%

Sep. 3, 2020 11:59 AM EDT

WASHINGTON (AP) — U.S. average rates on long-term mortgages changed little this week, remaining at historically low levels that has sparked demand for homes. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan ticked up to 2.93% from 2.91% last week. By contrast, the...

A new home is under construction on Wednesday, Aug. 19, 2020, in Pine Township, Pa.  U.S. construction spending edged up a tiny 0.1% in July, breaking a string of losses due to disruptions caused by the coronavirus pandemic. (AP Photo/Ted Shaffrey)

US construction spending edges up tiny 0.1% in July

Sep. 1, 2020 11:03 AM EDT

WASHINGTON (AP) — U.S. construction spending edged up a tiny 0.1% in July, breaking a string of losses due to disruptions caused by the coronavirus pandemic. The Commerce Department reported that the slight July gain followed a 0.5% decline in June. In July, spending on residential construction rose a...

This Monday, April 27, 2020 photo shows a sale pending sign on a home in Mount Lebanon, Pa.  The number of Americans signing contracts to buy homes rose for the second straight month as the housing market appears to be recovering from a devastating spring freeze because of the coronavirus outbreak. The National Association of Realtors said Wednesday, July 29,  that its index of pending sales rose 16.6% to 116.1 in June.(AP Photo/Gene J. Puskar)

More Americans sign contracts to buy homes in July

Aug. 27, 2020 10:01 AM EDT

SILVER SPRING, Md. (AP) — More Americans signed contracts to buy homes in July, suggesting the current hot housing market could continue in the fall. The National Association of Realtors said Thursday that its index of pending sales rose 5.9%, to 122.1 last month. It had plunged to a low of 69 in April,...

FILE - In this April 1, 2020 photo, a

July sales of new homes surge 13.9%, far more than thought

Aug. 25, 2020 11:36 AM EDT

SILVER SPRING, Md. (AP) — Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemic-related lockdowns. The Commerce Department reported Tuesday that July's gain propelled sales of new homes to a seasonally-adjusted...

US new homes sales rise a huge 13.9% in July

Aug. 25, 2020 10:03 AM EDT
WASHINGTON (AP) — US new homes sales rise a huge 13.9% in July.
FILE - This Monday, April 27, 2020, file photo shows a sale pending sign on a home in Mount Lebanon, Pa. The coronavirus pandemic helped shape the housing market by influencing everything from the direction of mortgage rates to the inventory of homes on the market to the types of homes in demand and the desired locations. (AP Photo/Gene J. Puskar, File)

Low rates and heavy buyer demand send US home sales surging

Aug. 21, 2020 3:32 PM EDT

SILVER SPRING, Md. (AP) — Spurred by ultra-low mortgage rates, home buyers rushed last month to snap up a limited supply of existing houses, causing the pace of purchases to jump by a record-high 24.7%. The July surge in sales reported Friday by the National Association of Realtors marked the second...