Welcome to ACEC’s June economic update. Each month, ACEC’s Erin McLaughlin analyzes the latest industry data and provides insights for the engineering and design industry.
Here are the top 4 things you need to know:
Number 1 —
Despite rising interest rates, Housing prices are up 20.6% year-over-year according to the S&P CoreLogic Case-Shiller Home Price Index, the most significant year-over year-increase since tracking began in 1987.
Number 2 —
Total design and construction spending was up more than 12% this April, compared to the same time last year, according to the US Census Bureau. It remains driven by private residential spending which up over 18%, and private non-residential up more than 10%.
Number 3 —
The five hottest markets for the first four months of the year are up compared to same time period last year are manufacturing, commercial, residential, conservation and development, sewage and waste disposal.
Number 4 —
The coolest markets for the first four months of the year are down compared to same time period last year. The five coolest markets are public safety, lodging, religious, educational, transportation — as defined by the Census Bureau which does not include highway and streets.
There you have it. The economic update series is one of ACEC’s resources for media and members.