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

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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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.

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.

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

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%

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).

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.

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.

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.

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).

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.

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%

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.

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).

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.

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%

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.

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.

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.

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.

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.

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%

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.

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.

Stable Reading for July Construction Job Openings

Eyes on Housing

The construction labor market is cooling off as economic activity slows in response to tighter monetary policy. However, the July data shows stability concerning the number of open, unfilled jobs in the construction industry. The count of open construction jobs.

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.

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

Webinar Spotlight: Construction Lending & The Digital Frontier

Appraisal Buzz

The post Webinar Spotlight: Construction Lending & The Digital Frontier appeared first on theMReport.com. The post Webinar Spotlight: Construction Lending & The Digital Frontier appeared first on Appraisal Buzz. Explore recent installments of Five Star’s complimentary webinar series, with subject-matter experts tackling all aspects of the modern mortgage landscape.

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.

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.

Statutory Requirements: Strict Construction or Strict Compliance?

Appraisal Buzz

The post Statutory Requirements: Strict Construction or Strict Compliance? The post Statutory Requirements: Strict Construction or Strict Compliance? Make sure that your Section 1304 notices do not include anything beyond what the statute expressly prescribes, and it is mailed in a separate envelope. Arsenio Rodriguez and Ali Degan Esq. from Stern & Eisenberg, P.C. explain this crucial detail. appeared first on DSNews.

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

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.

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.

Home Building Construction Times Slow in 2021

Eyes on Housing

The 2021 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 8.2 months to finish the construction.

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.

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

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.

Single-Family Built-for-Rent Construction Surging

Eyes on Housing

Single-family built-for-rent sector construction surged during the second quarter of 2022 as homebuying affordability declined on higher mortgage interest rates.