Construction, Real Estate & Infrastructure

SEATTLE – October 29, 2026 -- The median U.S. home-sale price fell 0.1% year over year to $389,601 in the four weeks ending Oct. 25, the first annual decline in more than three years, according to Redfin.

Prices decline for a second straight week after three years of gains

The latest drop follows a 0.2% decline the previous week. Prices had risen for three straight years before turning down.

Pending sales fall to the lowest level in records dating to 2021

Pending home sales dropped 1.8% from a week earlier. For the third consecutive week, pending sales declined in all 50 of the most populous U.S. metro areas.

Monthly mortgage payment reaches $2,786, up 10.7% year over year

The median payment is the second-highest in Redfin's records, behind only the prior week. The weekly average mortgage rate was 7.32%, down from 7.4% a week earlier but still near a three-year high.

Greenville, S.C. – October 29, 2026 -- Fort Hill LogiX, a patent-pending construction payment application review platform, now operates as a separate company from Fort Hill Associates. It is open to capital-project owners and the advisory firms that serve them, including competitors of its parent.

LogiX isolates customer data from Fort Hill Associates

The separation addresses a data-custody question that other firms raised when they saw the platform: whether submitting pay apps meant handing documents to a competitor. LogiX runs with separate staff access controls and tenant-level data isolation. Fort Hill Associates has no visibility into or access to other customers' data, and LogiX does not use owner data to train AI models.

HOUSTON – October 29, 2026 -- Quanta Services (NYSE: PWR) reported record third-quarter revenue of $12.01 billion, up from $7.63 billion a year earlier, and raised its full-year 2026 outlook across all metrics.

Earnings per share nearly double year over year

Net income attributable to common stock rose to $694.9 million, or $4.55 per diluted share, from $339.4 million, or $2.24 per share, in the third quarter of 2025. Adjusted diluted EPS reached $6.06 against $3.33 a year earlier. Adjusted EBITDA came in at $1.4 billion.

Cash flow from operations was $1.5 billion and free cash flow was $1.2 billion. Quanta flagged revenue, EBITDA, EPS and cash flow as record quarterly or record third-quarter results.

Tuscaloosa – October 29, 2026 -- U.S. construction and agricultural equipment dealers face a shortage of 10,000 technicians per year, costing them $7 billion annually in lost business and hindered growth, according to a report by Randall Reilly in partnership with the Associated Equipment Distributors Foundation.

Canadian dealers lose more than $800 million a year to a 1,200-technician gap

A companion report produced by Randall Reilly for the Canada Equipment Dealers Foundation and AED found Canadian ag and construction dealers are short more than 1,200 technicians each year. The gap costs them more than $800 million in lost revenue annually.

Majority of dealers cannot meet customer demand

Seventy-five percent of U.S. dealers and 80% of Canadian dealers rate their difficulty hiring technicians at 4 or higher on a 5-point scale. As a result, 80% of U.S. dealers and 78% of Canadian dealers say they cannot meet customer demand.

Miami – October 29, 2026 -- Maximo Wood is expanding its Dallas-Fort Worth availability through independent lumberyard Big D Lumber Company, which will stock Maximo Thermo Ayous at locations in Richardson, Haslet and Burleson.

Big D stocks two 1x6 tongue-and-groove Thermo Ayous profiles

Big D currently carries Maximo Thermo Ayous Smooth 1x6 tongue-and-groove boards with a reversible profile, plus Maximo Thermo Ayous Fluted 1x6 tongue-and-groove boards. Both target wall and ceiling cladding. Maximo says more products from its portfolio will follow.

Maximo also offers Thermo Ayous with built-in Burnblock fire-retardant, a WUI-compliant treatment designed to deliver consistent fire resistance throughout the board.

DALLAS – October 29, 2026 -- Civitas Capital Group has provided a $386 million senior construction loan to Flag Luxury Group and Unicorp National Developments for the InterContinental Orlando, a 700-key luxury hotel on International Drive.

Loan funds a 700-room hotel with 105,000 square feet of meeting space

The project at 8001 International Drive includes multiple food and beverage outlets and about 105,000 square feet of meeting and pre-function space. It also includes a six-level parking garage with roughly 730 spaces. A conservatory, spa, fitness center, club lounge and pool complete the amenity package.

Guest rooms will average about 471 square feet. The room mix includes 33 junior suites, 50 suites and five VIP and presidential suites, along with the brand's Club InterContinental lounge.

VANCOUVER – October 29, 2026 -- West Fraser Timber will indefinitely curtail its Huguley OSB mill in Lanett, Alabama and its lumber mill in Leola, Arkansas, and expects a $200 million to $220 million asset impairment loss in the fourth quarter of 2026. The company also reported a third-quarter net loss of $80 million, or $1.03 per diluted share.

Two U.S. mills to come offline in Q4 after orderly wind-downs

The curtailments will cut annual OSB capacity by 500 million square feet (3/8-inch basis) and Southern Yellow Pine (SYP) lumber capacity by 225 million board feet. West Fraser attributed the decision to continued weakness in demand for wood products used in new home construction and in repair and renovation.

CEO Sean McLaren said the company has "no near-term visibility" on a demand recovery. He also cited higher energy-related input costs.

CHEYENNE – October 29, 2026 -- Bechtel has committed $1 million to Laramie County Community College (LCCC) and Western Wyoming College to expand electrical and pipefitting training, including a pipefitting pathway that is new to Wyoming higher education. The company also launched Build for More, a statewide campaign that pitches skilled trades as a first-choice career for Wyoming students.

The funding will cover curriculum, instructors, equipment and training facilities at both institutions. The expanded electrical training will let more participants complete their programs in-state.

Bechtel announced the package at a panel discussion at LCCC in Cheyenne with Wyoming Governor Mark Gordon, LCCC President Dr. Joe Schaffer and Bechtel Senior Vice President Walker Kimball. The Wyoming Innovation Partnership and the Wyoming Business Alliance co-hosted the event. The partnership was developed with support from the Governor's office.

CHARLOTTE – October 29, 2026 -- JELD-WEN Holding, Inc. (NYSE: JELD) has launched an exchange offer that would swap its 4.875% Senior Notes due 2027 for new first lien senior secured notes due 2031 and raise up to $410.2 million in new money, with holders of about 94.5% of the old notes already committed to tender.

Backstop commitments cover 70% of the old notes

Holders representing roughly 70.0% of the old notes have committed to buy their agreed share of the up to $410.2 million in New Notes at $1,000 per $1,000 principal amount. The commitment covers any portion that other eligible holders do not subscribe for or fail to fund. The new money issuance shrinks dollar-for-dollar to the extent lenders holding Existing Term Loans decline to sell in a concurrent Dutch auction.

Orlando – October 29, 2026 -- PENETRON ADMIX SB, a crystalline waterproofing admixture supplied in soluble bags, was specified for all concrete elements at Sage Longboat Key, a 16-residence beachfront condominium project in Sarasota, Florida, where below-grade structures face high groundwater, chloride ions and Gulf of Mexico exposure.

Ready-mix supplier Moss recommended the admixture for every concrete element

Moss, the project's ready-mix concrete supplier, recommended PENETRON ADMIX SB as the waterproofing solution. The admixture was introduced into the concrete mix during batching.

Pool and elevator pits face groundwater and chloride exposure on Longboat Key

Longboat Key is a barrier island between Sarasota Bay to the east and the Gulf of Mexico to the west. The balconies, pool, amenity deck and elevator pits are all exposed to this marine environment.