Deck from Genesis Capital
Read Date: 9/2020
- Workspace policies are including an online questionnaire and temperature check for all employees, vendors and visitors to their sites
- August national construction employment experienced a 2.2% increase versus March 2020, but is still down 1.7% compared to 2019 levels
- Residential developers appear to be ramping up production as July 2020 witnessed the highest number of new home permit filings since June 2006
- The South still outpaces the rest of the nation by more than double the number of units permitted
- New home permit filings are reflective of both current and future economic outlooks, serving as indicators of consumer confidence and how homebuilders are perceiving changes to the market
- Nationwide monthly housing starts surpassed pre-2007 recession metrics
- “Housing starts” are new residential construction projects that begin during any particular month
- The increase in housing starts indicates developers’ and lenders’ bullish outlook on the national housing market
- New home starts are typically a key indicator of economic strength as residential construction has overarching impacts on most other industries
- A brief slowdown in starts can signal a large issue like COVID-19 or even the 2008 Recession