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UWM rolls out construction-to-permanent loans

Housing Wire

Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete.

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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. It was a strong month for construction,” First American deputy chief economist Odeta Kushi said in a statement. “We Following a strong showing in October , a somewhat disappointing U.S.

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Builders pull back on single-family construction in most counties

Housing Wire

Exurban areas (large metro outlying counties) recorded the largest 12-month decline in single-family construction, dropping from an annual growth rate of 31.9% It uses county-level data for single and multi-family permits to gauge housing construction growth in both urban and rural metros.

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Construction tech startup Modulous raises $11.5 million

Housing Wire

Seattle and London-based construction technology company Modulous has raised $11.5 based real estate developer, CEMEX Ventures , the venture arm of construction giant CEMEX ; Blackhorn Ventures (U.S.); The post Construction tech startup Modulous raises $11.5

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Construction worker shortage has reached “crisis” levels

Housing Wire

To keep pace with current construction demand, and account for attrition, 740,000 new construction workers are needed each year for the next three years , a report by the Home Builders Institute contends. million new hires for construction.

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Opinion: The “profitless boom” in residential construction

Housing Wire

The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Tye Alroe, director of Alroe Constructions , was recently let down by a subcontractor who pulled out of a job at the last minute. “I

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Construction platform Welcome Homes secures $29M Series A round

Inman

Era Ventures led the funding round for New York-based Welcome Homes, an online home construction platform that elevates the design and buy process of new property construction. News Brief Select Technology Era Ventures home construction new construction venture capital Welcome Homes

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Townhouse Construction Growing

Eyes on Housing

Over the last four quarters, townhouse construction starts totaled 152,000 units, 25% higher than the prior four quarter total (122,000).

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Construction Job Openings Jump

Eyes on Housing

The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs jumped to 449,000 unfilled positions in April.

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US jobs report: Construction unemployment low but job creation slows

Housing Wire

The construction sector, meanwhile, had only a slight gain, according to the U.S. But employment showed little change over the month in other major industries, including construction, retail trade, financial activities, government and other services. Job growth in the U.S.

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More Women Working in Construction in 2021

Eyes on Housing

The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced recession. Currently, women make up 11% of the construction workforce, up from 9.3%

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Townhouse Construction Market Share Rising

Eyes on Housing

Over the last four quarters, townhouse construction starts totaled 152,000 units, 7% higher than the prior four quarter total (142,000).

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New Home Construction Expectations for 2022

Appraisal Buzz

Of course, the construction industry has been facing some pressing challenges, including hitches in global and national supply chains. This makes new home construction a continued challenge, even as demand exists to accelerate new housing.

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Large Metro Suburban Single-family Construction Slows

Eyes on Housing

Supply-chain challenges and unfavorable economic conditions have reduced the pace of single-family residential construction across all regional submarkets.

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Construction a bright spot in weak September jobs report

Housing Wire

After losing 3,000 jobs in August , the construction sector added 22,000 jobs in September. However, construction employment is still 201,000 jobs below its February 2020 level. The average hourly earnings of production and non-supervisory employees in construction are up 5.8%

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Construction Job Market Volatility

Eyes on Housing

The count of open, unfilled jobs for the overall economy increased in September, rising from 10.3 million open positions to 10.71 million. This represents a small increase from a year ago (10.67 million).

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New home construction shoots up 22.6% in July

Housing Wire

New home construction continues to climb, as privately owned single-family housing starts in July were at a seasonally adjusted annual rate of 1.496 million, a 22.6% The post New home construction shoots up 22.6%

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Townhouse Construction Slows

Eyes on Housing

Nonetheless, over the last four quarters, townhouse construction starts totaled 148,000 units, 7% higher than the prior four quarter total (138,000).

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Highest Paid Occupations in Construction in 2020

Eyes on Housing

According to the 2020 Bureau of Labor Statistics Occupational Employment Statistics (OES) Survey data and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $50,460 and the top 25% make at least $71,000.

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Construction Job Openings Surge

Eyes on Housing

The labor market continues to tighten, especially for the construction industry. The count of open construction jobs increased to 410,000 unfilled positions in October, the highest measure in the history of the data series (going back to late 2000).

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The historic multifamily construction boom is already fading

Housing Wire

In response, multifamily construction has skyrocketed over the last year, hitting a historic high of 841,000 units under construction nationwide in June of this year, according to research from the National Multifamily Housing Council and the National Apartment Association.

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Increasing Open Jobs in Construction

Eyes on Housing

The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs increased for the month to 380,000 unfilled positions in January.

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Looking to renovate construction space, Freemodel secures $19.5M

Inman

Inman Intel News Brief Select Technology Venture Capital construction Freemodel funding presale renovations PropTech Series A financing venture capitalQED led a $19.5

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Construction Job Openings Leveling Off

Eyes on Housing

The construction labor market remains tight, but the total number of open construction sector jobs has likely reached a cyclical peak as economic activity slows in response to tighter financial conditions.

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HBGI Shows Suburban Shift for Multifamily Construction

Eyes on Housing

Read More › Economics apartments COVID-19 exurbs home building geography index housing demand housing preferences multifamily construction single-family construction suburban townhouse construction

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Median Age of Construction Workforce

Eyes on Housing

NAHB analysis of the most recent 2019 American Community Survey (ACS) data reveals that the median age of construction workers is 41, the same as a typical worker in the national labor force. The median age of construction.

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6 Tips for Appraising New Construction Homes

McKissock

New construction is treated a little differently by lenders, FHA, and the GSEs. When appraising new construction homes, you must take into consideration certain features and attributes that don’t necessarily apply to re-sales.

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Townhouse Construction Surged in 2021

Eyes on Housing

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction jumped 28.1% in 2021.

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Condo Construction Market Showing Gains?

Eyes on Housing

At 11,000 units started, this was the best quarter for condo construction since the third quarter of 2008. As a result, the market share of rental units of multifamily construction starts decreased to 91% during the first quarter.

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97% Built-for-Rent Multifamily Construction Share

Eyes on Housing

At 141,000 units started, this was the largest quarter for rental multifamily construction since the second quarter of 1986. The market share of rental units of multifamily construction starts increased to 97% as the already small condo.

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Construction Job Openings Likely Peaked

Eyes on Housing

The count of open, unfilled jobs for the overall economy declined slightly in November, falling from 10.51 million open positions to 10.46 million. This represents a decrease from a year ago (10.92 million), a sign the labor market is slowing in response to tighter monetary policy.

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Missing Middle Construction Still Missing

Eyes on Housing

The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties.

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Residential Construction Employment Rose Slightly in April

Eyes on Housing

Residential construction employment rose by 3,100 in April, after an increase of 28,700 in March. Read More › Construction Statistics Economic Indicators Economics Housing Data COVID-19 employment labor force labor force participation rate residential construction employment

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Construction Layoff Rate Dives

Eyes on Housing

What had been, in prior years, a challenge in certain sectors, like construction, continues as. The labor market continues to tighten. In the September BLS Job Openings and Labor Turnover Survey (JOLTS) data, the national number of job quits for all sectors (4.4

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New Construction on the Rise

Appraisal Buzz

The post New Construction on the Rise appeared first on theMReport.com. The post New Construction on the Rise appeared first on Appraisal Buzz. The pool of newly built single-family homes on the market is at a record high, as builders try to keep up with surging homebuyer demand.

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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.

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Growth for Townhouse Construction

Eyes on Housing

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction continued at a strong pace in the first quarter of 2021. This followed the best quarter for townhouse construction in 2.5

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States with Highest and Fastest Rising Construction Wages

Eyes on Housing

As the construction labor market remains tight and skilled labor shortages persist, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries.

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Residential Construction Loan Growth

Eyes on Housing

The second quarter of 2021 marked the second consecutive quarter of loan growth for residential construction loans. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased by 4.9%

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Increase in housing starts has construction playing catch-up

Housing Wire

Duncan noted the pace of new home sales over the past six months has accelerated more quickly than the construction pace, suggesting homebuilders will have to play catch up relative to sales going forward.