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. Index values for most construction inputs are down from 2022 but remain above pre-pandemic levels. That could set the backdrop for a slower pace of construction.

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

Cost of Materials Restricting Home Construction Growth

Appraisal Buzz

The demand for home inventory continues, despite contractors being impacted by cost increases, supply shortages, and transport bottlenecks. The post Cost of Materials Restricting Home Construction Growth appeared first on theMReport.com.

article thumbnail

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

Appraisal Buzz

Sectors that saw the greatest job gains in September included leisure and hospitality, professional/business services, retail, and transportation/warehousing. 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.

article thumbnail

Customer Story: Ohio Department of Transportation

GoForrmz

Challenge Completing over 700 projects a year, the Ohio Department of Transportation (ODOT) needed a more efficient and reliable means of completing and storing the extensive paperwork accompanying each project.

article thumbnail

Job gains exceed expectations in December

Housing Wire

Job gains occurred mainly in government, health care, social assistance and construction in December, while transportation and warehousing posted fewer jobs. Construction employment continued to trend up, with the sector adding 17,000 jobs in the last month of 2023.