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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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

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.

Stalled Construction Projects Up Nearly 50%

Appraisal Buzz

New housing construction is booming, but due to market constraints, stalled projects are also up compared to pre-pandemic times. In a new article written by Jacob Channel, LendingTree’s Senior Economic Analyst, he finds that strong housing demand has provided builders with plenty of opportunities to begin construction on new homes but labor shortages and global … The post Stalled Construction Projects Up Nearly 50% appeared first on theMReport.com.

Highest Paid Occupations in Construction in 2021

Eyes on Housing

According to the latest May 2021 Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) and analysis by the National Association of Home Builders (NAHB), half of payroll workers in construction earn more than $49,070 and the top 25% make at least $75,820.

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%

How will rising rates affect new home construction?

Housing Wire

Census Bureau released their construction report for February, showing a positive trend in housing construction data with a lovely print in housing permits at 1,859,000 and housing starts at 1,769,000. The post How will rising rates affect new home construction? Today, the U.S.

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.

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.

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.

March Gains in Private Residential Construction Spending

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1% in March after an increase of 0.7% Total private residential construction spending was 18.4%

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).

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.

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.

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.

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.

New-Construction Homes Rise to Record High

Appraisal Buzz

in December were new construction, up from 25.4% housing inventory over the last 10 years, with a significant increase in … The post New-Construction Homes Rise to Record High appeared first on DSNews. According to a new report from Redfin, more than 34.1%

Residential Construction Spending Trends Upward in February

Eyes on Housing

NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.1% Total private residential construction spending was 16.6%

Home Construction Stunted by Supply Chain Issues

Appraisal Buzz

The post Home Construction Stunted by Supply Chain Issues appeared first on DSNews. The post Home Construction Stunted by Supply Chain Issues appeared first on Appraisal Buzz.

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

Slight Rise for Construction Job Openings

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 slightly to 396,000 unfilled positions in March.

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.

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

Gains for Residential Construction Loans

Eyes on Housing

Residential construction loan volume reached a post-Great Recession high during the fourth quarter of 2021, as home building activity posted gains for the year. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions increased 1% during the fourth quarter.

Steady Number of Open Construction Jobs

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 remained steady at 381,000 unfilled positions in February.

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.

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

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.

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%.

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%

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.

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

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.

Appraising New Construction: Guidance for Follow-Up Inspections

Appraisal Buzz

While most appraisals only require a single field visit—and in some cases none—when it comes to appraising new construction, you may need to visit the property several times. The post Appraising New Construction: Guidance for Follow-Up Inspections appeared first on Appraisal Buzz.

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.

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.

High Building Materials Prices Erode Preference for New Construction

Eyes on Housing

Preference for newly constructed homes skyrocketed in 2020, as buyers looked for homes with more square footage and amenities in which to work remotely, school children, exercise, etc. By the fourth quarter of 2020, 42% of prospective buyers preferred new construction.

Home Construction Still Affected by Supply Chain Issues

Appraisal Buzz

Department of Housing and Urban Development have released their new residential construction statistics for February 2022, which found that privately?owned family housing starts in … The post Home Construction Still Affected by Supply Chain Issues appeared first on DSNews. The post Home Construction Still Affected by Supply Chain Issues appeared first on Appraisal Buzz. The U.S. Census Bureau and the U.S.