Eye On Housing
Author Archives
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Good News for Women in Construction: Employment Rising
The number of women employed in the construction industry grew substantially in 2019 rising to around 1.2 million, surpassing the peak of pre-recession employment level. As the construction skilled labor shortage remains a key challenge, adding new workers is an important goal of the industry. Bringing additional women into the construction labor force represents a potential opportunity for the future…. Read More ›
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Apartment Construction Took Longer in 2019
The average length of time to complete construction of a multifamily building, after obtaining authorization, is 17.3 months, according to the 2019 Survey of Construction (SOC) from the Census Bureau. The authorization-to-completion time has been on an upward trend since 2013, as regulatory challenges expanded and the skilled labor shortage challenged the industry. The average time to build multifamily homes… Read More ›
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Personal Income Up in July
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased to a seasonally adjusted annual rate (SAAR) of $20,043 billion. It was up 0.4%, after a 1.0% decline in June. This increase in personal income largely came from the gains of wages and salaries ($149.9 billion) as the economy continued to reopen in… Read More ›
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Private Residential Construction Spending Up 2% in July
NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $546.6 billion in July. It was up 2.0% this month after four consecutive monthly decreases. Total private residential construction spending was 0.5% higher than a year ago. The monthly gain is largely attributed to the steady growth… Read More ›
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Private Residential Construction Spending Declined in June
NAHB analysis of the Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $534.2 billion in June. It was down 1.5% in June, after a 3.6% decline in May and a 4.4% decrease in April, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, total… Read More ›
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June Personal Income Declined 1.1%
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income decreased in June to a seasonally adjusted annual rate (SAAR) of $19,880 billion. It dropped 1.1% in June, after a 4.4% decline in May. This decrease in personal income largely came from the decline in government social benefits, because the majority of one-time stimulus… Read More ›
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Second Quarter Homeownership Data Collection Challenges
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported significant homeownership gains in the second quarter of 2020, especially among households headed by young adults under 35. National vacancy rates for both rental and homeowner housing also declined in the second quarter. The reported gains for homeownership are consistent with increases in both existing and new home sales in June. However… Read More ›
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Private Residential Spending Declined in May; Significant Revisions for Improvement Spending
NAHB analysis of the Census Construction Spending data shows total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $535.9 billion in May. It was down 4.0% in May, after a 5.1% decline in April, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, however, total private construction spending inched up 0.7%…. Read More ›
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May Personal Income Declined 4.2%
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income decreased in May to a seasonally adjusted annual rate (SAAR) of $19,839 billion. It went down 4.2% in May, after a 10.8% jump in April. This decrease in personal income largely came from the decline in government social benefits, because the majority of one-time… Read More ›
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Private Residential Spending Slides in April
NAHB analysis of the Census Construction Spending data shows total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $536.8 billion in April. It was down 4.5% in April, after a 0.2% dip in March, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, however, total private construction spending rose 6.2%. The… Read More ›