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.

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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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%

Residential construction jobs still haven’t returned

Housing Wire

For the second month in a row the construction sector added jobs, rising by 44,000 jobs in October. Unfortunately for the residential housing sector, most of these jobs were in nonresidential specialty trade contractors (19,000), and in heavy and civil engineering construction (12,000). Construction employment is still 150,000 jobs below its February 2020 level. The post Residential construction jobs still haven’t returned appeared first on HousingWire.

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%

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).

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.

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

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

Residential Construction Continues Shift to Suburbs

Appraisal Buzz

The post Residential Construction Continues Shift to Suburbs appeared first on theMReport.com. The post Residential Construction Continues Shift to Suburbs appeared first on Appraisal Buzz.

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.

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%

July Construction Job Openings

Eyes on Housing

What had been a challenge in certain sectors, like construction, continues as a broad labor access issue as businesses seek workers as the economy reopens. The count of open construction jobs weakened in July to 321,000 unfilled positions, according to data from.

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

Cost of Materials Restricting Home Construction Growth

Appraisal Buzz

The post Cost of Materials Restricting Home Construction Growth appeared first on theMReport.com. The post Cost of Materials Restricting Home Construction Growth appeared first on Appraisal Buzz.

Decline in Construction Workforce Stunts Housing Inventory

Appraisal Buzz

With the demand for homes at an all-time high, new construction has been dampened by a drop in the number of workers. The post Decline in Construction Workforce Stunts Housing Inventory appeared first on theMReport.com.

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

Suburbs see greatest gain in single-family construction in Q3

Housing Wire

Since Q1, the market share for single-family construction in urban core areas fell from 18% to 17.2%, the report said. The report showed that single-family construction in second-home markets expanded at a 13.6% Apartment construction increased in second-home markets by 11.1%.

Construction Loans Slightly More Available, But at Higher Rates

Eyes on Housing

In the third quarter of 2021, effective interest rates increased on all four categories of loans tracked in NAHB’s Survey on Acquisition, Development & Construction (AD&C).

Customer Story: Omega Construction

GoForrmz

” — Greg Marshall, CFO, Omega Construction. About Omega Construction Since 1975, Omega Construction has provided pre-construction and construction services to a variety of industries, including hospitality, retail, industrial and distribution, historic preservation, and commercial.

Prices of Residential Construction Inputs Up 23% Year-Over-Year

Eyes on Housing

Prices paid for goods used in residential construction ex-energy rose 3.6% inputs to residential construction less food and energy) prices have declined just twice since December 2019. in May (not seasonally adjusted) and have increased 16.5%

Construction Numbers Pushed Higher by Multifamily Surge; Potentially Big Day Ahead For Rates

Appraisal Buzz

Residential construction numbers were a surprise again in August. Permits for construction and housing starts were both higher than expected, however, multifamily numbers were driving the results.

Fannie Mae Ups Home Sales Expectations, Lowers Home Construction Projections

Appraisal Buzz

The post Fannie Mae Ups Home Sales Expectations, Lowers Home Construction Projections appeared first on Appraisal Buzz. Inflation is a key forecast concern for the economy, according to the November 2021 commentary from the Fannie Mae ’s Economic and Strategic Research (ESR) Group.

Year-over-Year Gains 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 in the third quarter of 2021 continued to show year-over-year construction increases.

NAHB Urges Biden to Address Home Construction Bottlenecks

Appraisal Buzz

The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on theMReport.com. The post NAHB Urges Biden to Address Home Construction Bottlenecks appeared first on Appraisal Buzz.

Construction Loan Growth During Third Quarter

Eyes on Housing

Residential construction loan volume reached a post-Great Recession high during the third quarter, as home building activity continued to expand in 2021. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased by 6% during the third quarter.

Construction Self-Employment Rates at Record Low

Eyes on Housing

million) of construction workers are self-employed. Nevertheless, construction self-employment rates are now lowest on record, down from a record high of over 26% in 2010. One of the factors behind the recently falling construction self-employment.

Stable Conditions for Construction Job Openings

Eyes on Housing

What had been a challenge in certain sectors, like construction, continues as a broad labor access issue as businesses seek workers as the economy expands. The count of open construction jobs was stable at 344,000 unfilled positions, according to data from.

[Press & News] GoFormz Named To Construction Executive's '2021 Top Construction Technology Firms'

GoForrmz

GoFormz highlighted as a top construction technology solution We are thrilled to announce that GoFormz has been selected as a ‘Top Construction Technology Firm’ by Construction Executive. Read the Article: The Top Construction Technology Firms.

Construction Reversal: Single-Family, Multifamily Units Under Construction

Eyes on Housing

A reversal is taking place in the construction pipeline. Since early 2013, there have been consistently more multifamily units (residences within 2+ unit properties) under construction relative to single-family homes.

Crosswinds for Construction Job Openings

Eyes on Housing

The count of open construction jobs declined in May to 299,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). Overall, hiring in the construction sector remained strong in May, ticking down to a 4.2%

What’s Happening in New Home Construction and Sales?

Appraisal Buzz

Residential construction and new home sales have been making quite a few headlines lately. Keep reading to catch up on the latest stories and market data related to new home construction and sales. The post What’s Happening in New Home Construction and Sales?

Women Make Up 10.9% of the Construction Workforce

Eyes on Housing

The number of women employed in the construction industry grew slightly in 2020, rising to around 1.17 million, while the construction industry lost 587,000 jobs in 2020 when the pandemic hit the economy. As the construction skilled labor shortage remains.

Rates Recover After Bumpy Week; Realtors See Prices Moderating; Stubbornly High Construction Costs

Appraisal Buzz

The post Rates Recover After Bumpy Week; Realtors See Prices Moderating; Stubbornly High Construction Costs appeared first on Appraisal Buzz. Mortgage rates bounced at 6 month lows early last week and moved higher at a faster-than-normal pace through the middle of this week.

Spotlight Form: The Daily Construction Report

GoForrmz

Utilize digital daily construction reports to rapidly capture job site data, capture job site images, and more – even while offline in remote locations Improve visibility into your job site with digital daily construction reports that can be completed directly from phones, tablets, and computers.

Home Building Construction Times Accelerated in 2020

Eyes on Housing

The 2020 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 7.8 months to finish the construction.

Construction Cools as Costs Climb

Eyes on Housing

Housing production declined in April due to rising prices and limited availability of lumber and other building materials. Overall housing starts decreased 9.5% to a seasonally adjusted annual rate of 1.57 million units, according to data from the U.S.

More Young Workers Join the Construction Labor Force

Eyes on Housing

The latest labor force statistics from the 2019 American Community Survey show that more young people are entering the construction trades. in the construction industry in 2019, compared to only 9.7%

The Loan Officer’s Guide to Appraisals Part 9: New Construction

Riverfront Appraisals

This month’s blog post will be all about new construction appraisals. The post The Loan Officer’s Guide to Appraisals Part 9: New Construction appeared first on Riverfront Appraisals. Welcome to the September edition of our blog series, The Loan Officer’s Guide to Appraisals.

Best Quarter for Townhouse Construction in 14 Years

Eyes on Housing

According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction in the second quarter of 2021 posted the highest count of starts in 14 years.

Unemployment Fell to 4.8 Percent in September; Construction Sector Growth Lagging

Appraisal Buzz

The construction sector, however, only added 22,000 jobs in September and has shown little net change thus far this year, the BLS notes. Employment in construction was 201,000. Percent in September; Construction Sector Growth Lagging appeared first on Appraisal Buzz. The U.S.

Residential Construction Loan Volume Moves Higher

Eyes on Housing

Ending a period of volume decline that began at the end of 2019, the volume of residential construction lending posted an increase during the first quarter of 2021. The volume of 1-4 unit residential construction loans made.

Count of Open Construction Jobs Near Two-Year High

Eyes on Housing

The count of open construction jobs increased in April to 357,000 unfilled positions, according to data from the BLS Job Openings and Labor Turnover Survey (JOLTS). Overall, hiring in the construction sector slowed in April, declining to a 4.5%