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.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

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%

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%

Reimagining How Construction Companies Capture Progress Tracking

Speaker: Felipe Engineer-Manriquez, Christopher Gagliardi, George Hedley, and Jason Nichols

Join our esteemed panelists for their discussion on the importance of progress tracking which ultimately touches upon every digital aspect within the construction cycle. Our thought-leaders' years of experience on the job sites can help you build a better future at your company.

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.

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.

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

Shortage of construction workers hits “crisis level”

Realty Biz

Anyone looking for a career change that doesn’t have the advantage of a college degree could do a whole lot worse than retraining as a construction worker. million new hires for construction,” he added. Brady said the construction worker shortage has now reached a “crisis level”.

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

Home Builders Ramp Up Construction Based on Demand

Keeping Current Matters

Early indicators show new-home construction is beginning to ramp up. Evangelou refers to the volume of new homes where construction began during a set period, known in the industry as housing starts. Thus, housing construction is trending upward with housing starts likely to reach 1.6

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.

Appraising New Construction: Guidance for Follow-Up Inspections

McKissock

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. Inspection during construction. Related Reading: 6 Tips for Appraising New Construction Homes.

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%.

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

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

Struggling To Find a Home To Buy? New Construction May Be an Option.

Keeping Current Matters

First, let’s look at the benefits of purchasing a newly constructed home. Buying a new construction vs. existing home typically means you’ll have fewer repairs to do. New Construction May Be an Option. For Buyers Move-Up Buyers New Construction

Should You Buy an Existing Home or New Construction?

Keeping Current Matters

With so few homes for sale and construction of newly built homes ramping up , you may be wondering if you should consider new construction in your search process. New Construction . Another solid benefit to new construction is customization.

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%

Home builders unlikely to match 2021 construction pace

Realty Biz

Data from the Commerce Department shows that builders boosted construction activity as best they can in 2021 to meet buyer’s insatiable demand for new homes. month-to-month decrease in single-family construction.

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).

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.

Paint, Steel, and Services Prices Set Records, Drive PPI for Residential Construction Inputs Higher

Eyes on Housing

The prices of goods used in residential construction ex-energy climbed 1.8% Read More › Economics Housing Data Building Materials building materials prices construction costs Gypsum inflation lumber paint ppi producer price index softwood lumber steel

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.

Strong Year-over-Year Gains for Construction Job Openings

Eyes on Housing

The construction labor market remains tight, as the levels of quits rise. The count of open construction jobs declined to 345,000 unfilled positions in November, after recording the highest measure in the history of the data series (going back to late 2000), 445,000 in October.

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%

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.

Top Posts of 2021: Higher Construction Material Costs

Eyes on Housing

In December, David Logan reported on data examining inflationary impacts on construction material costs. The prices of goods used in residential construction ex-energy climbed 1.8%

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.

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.

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.

Second Home Markets Show Construction Growth

Eye on Housing

For the third quarter of 2020, NAHB’s Home Building Geography Index (HBGI) found construction gains for traditional second home markets. Read More › The post Second Home Markets Show Construction Growth first appeared on Eye On Housing.