Single-family starts drive construction growth
September 20, 2013
A rise in projects for single-family homes may mean busier times for construction firms, thus driving the need for job costing solutions and other construction software that can streamline operations.
According to the latest residential construction report from the U.S. Census Bureau and Department of Housing and Urban Development, the rate for seasonally adjusted housing permits in August was 11 percent higher year over year. Completion of projects rose slightly between August and July - with roughly 573,000 single-family homes finished last month. Actual starts were 19 percent higher than they were in August 2012.
Joseph LaVorgna, an economist at Deutsche Bank, told The Seattle Times the ongoing improvements in single-family permits and construction starts suggested that the trend would continue for the duration of 2013. The source also reported that growth in the single-family homes sector can contribute to overall economic performance.
If these metrics continue to rise through the fourth quarter of 2013, contractors may need to increase their reliance on business construction software to keep track of the many moving parts involved in running successful projects. As Constructech magazine points out, technology can also help firms assess risk and mitigate challenges that could prevent them from taking advantage of current residential demand.