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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. Jobs Report released on Friday.

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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. The construction worker shortage has reached crisis level.

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Proprietary Capital completes acquisition of AFR, hires new COO

Housing Wire

residential mortgage market and housing-related assets. In AFR, it’s adding the New Jersey-based, full-service independent mortgage bank that has direct, wholesale and correspondent lending divisions. It also has a niche in construction and manufactured home loan programs.

Lending 379
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The labor market showed signs of modest cooling in July

Housing Wire

Employment in the construction industry continued to trend up in July, adding 19,000 jobs, especially in the residential construction space. Over the month, a job gain in real estate and rental and leasing (+12,000) partially compensated for a loss in commercial banking (-3,000).

Marketing 328
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Skilled labor is returning to homebuilding

Housing Wire

jobs report released Friday shows that 678,000 non-farm payroll jobs were added in February, and the return of skilled labor in residential construction is reason alone for optimism. After losing 5,000 jobs in January, the construction sector rebounded gaining 60,000 jobs in February. After mixed results in January , the U.S.

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Benefits of Investing in New Construction Real Estate

Norada Real Estate

When it comes to investing in residential real estate, there are only two basic types of property you can invest in – new construction and resale. New construction properties are those that are purchased directly from the builder or developer who constructed the property. They are the owner and seller.

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What Will the Real Estate Market Bring in 2024? Market Corrections or Rising Property Prices?

Realty Biz

Only they have access to real estate comps, MLS listings, and local market trends that can help you buy, rent, sell, or invest in residential, commercial, or industrial real estate. Bank Rates report the same declining trend in home prices. At the same time, new constructions struggle to keep up with the market.