PUBLISHED BY THE EL PASO ASSOCIATION OF BUILDERS : NATIONAL , STATE AND LOCAL HOME BUILDING INDUSTRY NEWS

The dramatic election victory for Trump names key officials to staff his new construction has added just 44,500 jobs .

President-Elect Donald Trump and administration in the coming weeks . The total number of open , unfilled congressional Republicans reshapes the In the meantime , the rise in long-term construction jobs declined to just 288,000 in outlook for the housing sector and the interest rates has had a direct impact on the September — another sign of weakening overall economy . For example , equity / stock mortgage market . Counter to most demand for construction labor . markets loved the result , expecting an forecasts , including NAHB ’ s , the average We will get a reading of single-family improved regulatory environment and interest rate for a 30-year mortgage has builder confidence in just under a week , significant — if not , total — extension of the increased from below 6.1 % in mid- which will help get a sense of how builders

2017 tax reform policies .

September to almost 6.8 % last week . While are viewing market conditions over the next

However , the bond market has deep this represents a significant hit to housing six months . Apartment developers continue concerns , with investors dumping bonds affordability , macro conditions remain solid . to report mixed sentiment regarding the and pushing the 10-year Treasury rate from U . S . GDP expanded at a 2.8 % annualized market . The latest NAHB Multifamily 3.6 % in mid-September to near 4.3 % at the growth rate in the third quarter , albeit lower Production Index decreased four points end of last week . Bond investors are than the 3 % rate from the second quarter . from the previous quarter to a weak reading concerned about possible inflationary The labor market is showing signs of of 40 , indicating more apartment builders impacts from a larger federal government strain . After some of the most significant job are facing poor market conditions . However , deficit and a move to tariffs . market data revisions in more than a the third quarter reading was two points

And while the incoming Trump decade , October job growth totaled a higher than a year ago , suggesting the administration has been clear that meager 12,000 in part because of major multifamily construction market could deportation will be used to deal with illegal hurricanes and labor strikes . The potentially stabilize later in 2025 . immigration , the scope and scale of this unemployment rate was steady , at a low But the multifamily outlook , along with policy is unclear . It remains a significant 4.1 % reading . Home builders and other housing and economic indicators , wildcard for the economic outlook , with remodelers lost 5,300 jobs in October as contains more uncertainty until the election potential impacts on housing demand , labor residential construction activity slowed , results are finalized and what policies supply and border issues . Greater clarity on particularly in the apartment development Trump intends to pursue at the start of his all of these policy issues will be gained as sector . Over the last year , residential second administration .

2024Issue11 BuildersOutlook 9

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