Remove 2021 Remove Construction Remove Mortgage Remove Transportation
article thumbnail

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. High mortgage rates and home prices quelled the surge in buyer demand, and time seems to have moderated the supply chain shocks.

article thumbnail

Residential construction jobs slowly return

Housing Wire

The construction sector added a total of 31,000 jobs in November, on par with the two prior months. Specialty contractors showed the largest gains with an increase of 13,000 jobs, while persons employed in construction of buildings, and civil and heavy engineering rose by 10,000 and 8,000 jobs, respectively. While this is a 0.4%

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Residential construction jobs now 7.6% above pre-COVID level

Housing Wire

After a month of very little change in April , the construction sector had a solid month of job growth in May, according to the U.S. Construction gained 36,000 jobs in May, with residential building adding 5,000 jobs and residential specialty trade contractors gain 11,700 jobs. The post Residential construction jobs now 7.6%

article thumbnail

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.

article thumbnail

Job growth remained strong in April, unemployment rate unchanged

Housing Wire

In addition, employment in the construction industry is now 21,000 jobs above its pre-pandemic level after the sector added 2,000 jobs. of its pre-pandemic level,” Mike Fratantoni, the Mortgage Bankers Association’s SVP and chief economist, said in a statement. had another strong month in April. recorded in February 2020.

article thumbnail

Stronger than expected job growth raises specter of more Fed hikes

Housing Wire

So far this year, monthly job growth has averaged 392,000, down from an average of 562,000 per month in 2021. 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).

article thumbnail

What Impact Will the Infrastructure Bill Have on the Housing Crisis?

Appraisal Buzz

A significant indirect influence comes with the infrastructure bill signed into law in November 2021. In 2020, 30% of all households had “unaffordable” mortgage or rent payments. Home prices continued to rise by over 20% between the spring of 2021 and the spring of 2022. The Current Housing Crisis. The Infrastructure Bill.