New residential construction is in a period of strong growth, according to recently released government figures. In data jointly released by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau, building permits related to residential construction increased 7.4 percent compared to the month before, and were up 30 percent since June 2014.
Housing starts increased by nearly 10 percent compared to May 2015. Housing project completions were down slightly from May, but were up 22 percent when compared to a year prior.
This is definitely good news, as increased activity in the residential construction sector is generally a reliable sign of positive economic growth overall. More construction projects means more work, and more demand for building supplies—which in turn means more work for employees of those industries. Increased residential construction activity is also usually a sign that people are feeling more financially secure, and feel comfortable enough to invest a significant amount of money into buying a new home.
Although people may be willing to make the major investment of having a new home built, this doesn’t mean they want to spend more money than absolutely necessary. For many property owners and those having new homes built, every aspect of the budget is under careful scrutiny. One area where homeowners are paying attention is the energy usage of the home. Energy efficiency is a high priority—for financial as well as environmental reasons—so people are eager to employ as many energy saving tactics as possible.
These home construction customers may turn to their builders or contractors to offer suggestions as to how they can reduce the energy consumption of these properties. One popular strategy is to use spray foam for insulation and roofing purposes. These materials can drastically cut utility bills, while also making the living space of the home more comfortable.
These property owners are eager to realize the budgetary savings that spray foam can provide, and likely also like the idea of employing green building tactics. However, they don’t want this choice to cause delays in their construction timeline. That’s why it is critical that contractors have the right materials and equipment available to perform these jobs. Popular options in this category include the Graco Fusion spray foam gun, which is a favorite tool among spray foam professionals.
Building contractors can find all the spray foam equipment they need at Intech Equipment & Supply.