Tag Archive for ‘construction’

Most Common Siding On New Homes are Vinyl and Stucco in 2018

According to the data from the Census Bureau’s Survey of Construction (SOC) the most common exterior wall materials on homes started in 2018 were vinyl siding and stucco. Vinyl siding and Stucco (26 percent each) were used on new homes started in 2018, brick or brick veneer (21 percent), and fiber cement siding (such as Hardiplank or Hardiboard) (20 percent). Far smaller shares… Read More ›

Highest Paid Occupations in Construction in 2018

According to the 2018 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 $47,290 and the top 25% make at least $66,290. In comparison, the U.S. median wage is $38,640, while the top quartile (top 25%) makes at least $62,510…. Read More ›

Labor Shortages Still Hurting Affordability

Labor and subcontractor shortages remained widespread in July of 2019 and are continuing to impact the industry in a number of ways—including putting additional upward pressure on new home prices— according to results from special questions on the survey for the NAHB/Well Fargo Housing Market Index (HMI).  In July, the HMI survey asked builders specifically about shortages in 16 different occupations. … Read More ›

HBGI Shows Multifamily Gains in Small Towns and Rural Areas

NAHB analysis of multifamily construction permits over the last four quarters indicates relatively higher growth rates in less populated areas. A prior post reviewed the newly released Home Building Geography Index (HBGI) through the perspective of single-family permit activity. This post examines multifamily construction as classified into the seven HBGI regional geographies, as differentiated by urban density. Economic theory suggests… Read More ›

Highest Paid Occupations in Construction

According to the most recent release of the Occupational Employment Statistics (OES) by the Bureau of Labor Statistics (BLS), half of payroll workers in construction earn more than $45,820. In comparison, the US median wage is below $37,700. The OES publishes wages for close to 380 occupations in construction. Out of these, only 54 are construction trades. The other industry… Read More ›

NAHB Releases New Home Building Employment Estimates by State

The new NAHB study presents the most recent and comprehensive estimates of home building employment, including self-employed workers, by state. NAHB Economics estimates that out of 9.8 million people working in construction in 2016, more than 3.8 million people worked in residential construction, accounting for 2.5% of the US employed civilian labor force. These numbers reflect modest but steady job… Read More ›

New NAHB Estimate: 58,600 Single-family Tear-down Starts in 2017

Roughly 6.8 percent of single-family homes started in 2017 qualify as tear-down starts, according to NAHB’s latest estimates.  This is down from 10.2 percent in 2016, due primarily to the sharp reversal of a 2016 spike in tear-down percentages reported from the western part of the country. The abovementioned results come from special questions appended to the February 2018 survey for the NAHB/Wells Fargo Housing Market… Read More ›

Construction Trades: A Step on the Path Toward Higher Paying Jobs

A recent NAHB study identifies eight senior positions at home building companies that are often to nearly always filled by someone with experience in one or more of the construction trades.  Average annual compensation (salary and bonus combined) for each of the eight positions is at least $80,000—at least $100,000, if the position is Head/Director or above of one of… Read More ›