Housing Wire
JANUARY 17, 2024
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.
Housing Wire
NOVEMBER 4, 2021
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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Housing Wire
SEPTEMBER 13, 2022
Seattle and London-based construction technology company Modulous has raised $11.5 Main contributors to this round of funding included SFV , the venture arm of German real estate developer Patrizia ; Regal London , a U.K-based The post Construction tech startup Modulous raises $11.5 and Leela Capital (U.K.).
Housing Wire
FEBRUARY 1, 2023
Michigan-based lender United Wholesale Mortgage (UWM) has introduced a construction-to-permanent loan that covers the cost of building a home and then converts to a permanent mortgage once construction is complete. Department of Housing and Urban Development (HUD), according to lawyers. UWM, which originated $33.5
Housing Wire
OCTOBER 8, 2021
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% Department of Housing and Urban Development.
Housing Wire
FEBRUARY 22, 2022
The residential construction industry is facing a crisis as builders manage the critical shortage of building materials and labor. Builders are having to delay project start times, resulting in cost blowouts and developments not being completed. Many people are referring to this time as a ‘profitless boom’ for the building industry.
Housing Wire
NOVEMBER 5, 2021
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). Residential building is up 5.4%
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