Concrete block construction has it's good points and bad points. The blocks are large and construction actually goes faster than one might think. Concrete foundation walls have a high insulation factor, if they are filled with concrete, not left hollow. They do repel insects and are very hardy during tornadoes, hurricanes and earthquakes. They are also fire resistant and are nearly soundproof.
. They can be covered with siding if the outside look is undesirable. Some of the cons are that they are considered ugly. They are heavy, and will require muscle to lift, even though the work goes pretty quickly with enough strength. Not really a con but a caution, if construction is in an area with a high water table, it is essential that the concrete blocks be waterproofed and dreaded water seepage should not be an issue. Also, the initial cost of block is higher than traditional drywall and wood construction. Here is a very informative website that goes into more detail: http://www.doityourself.com/stry/building-houses-with-concrete-block--pros-and-cons