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DataDigest: Construction costs easing for homebuilders

Housing Wire

New home construction exploded early in the pandemic as soaring home demand squeezed existing inventory nationwide, giving homebuilders a much bigger share of a shrinking pie. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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Job gains exceed expectations in December

Housing Wire

While this is below the job growth in 2021 and 2022, when the economy was rebounding from the sharp job losses in 2020, it is still a much higher pace of job growth than we had before the pandemic,” Bright MLS Chief Economist Lisa Sturtevant said in a statement. With December’s numbers in, a total of 2.7 million jobs were added to the U.S.

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May jobs report complicates things for the Fed

Housing Wire

Even though the pace of layoffs has picked up, many businesses, particularly in transportation, healthcare, and hospitality, continue to have strong demand for workers,” Mike Fratantoni , the Mortgage Bankers Association’s chief economist, said in a statement. Residential building construction added 2,400 jobs during the month.

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Stronger than expected job growth raises specter of more Fed hikes

Housing Wire

Employment in the construction industry was up by 20,000 jobs from October, thanks to large gains in nonresidential building (up 8,200 jobs) and residential specialty trade contractors (up 6,500 jobs). In February 2020, a combined 300,000 were employed in “ real estate credit ” and as mortgage and nonmortgage loan brokers.

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Are we seeing cracks in the labor market?

Housing Wire

Here are my three key points on the labor market recovery since I retired my COVID-19 recovery model on Dec. 9, 2020: 1. Employment continued growing in government, health care, social assistance, and construction, while transportation and warehousing lost jobs. Job openings should get to 10 million. (We percent, the U.S.

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Solid job growth defies recession talk — for now

Housing Wire

Notable job gains occurred in leisure and hospitality, in professional and business services, and in transportation and warehousing. A tighter labor market is a good thing, I always say; this means people with less educational backgrounds can get employed as we do have many jobs that don’t require a college education. percent, the U.S.

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Will the Infrastructure Bill Affect the Real Estate Market?

Appraisal Buzz

The housing market has experienced a turbulent few years, so what can industry experts expect in the future? Construction Sites Will Stay on Schedule. construction sites. About $17 billion will be used to strengthen ports that have suffered due to inflation, improving the supply chain for building and construction.