Tag Archive for ‘construction’

Homebuilder and Remodeler Cost Breakdown

NAHB analysis of the latest Economic Census data shows that, on average, residential construction establishments were able to cover their hard and soft construction costs and generate positive profits in 2012. The 2012 data show that the direct costs of construction – consisting of construction payroll, costs of construction work subcontracted out to others, and costs for materials/supplies – vary… Read More ›

Age of the Construction Labor Force

A scarcity of workers has been a notable headwind for home building and other parts of the construction industry in recent years. And a look at Census data reveals that the average age of workers in the construction industry exceeds the average age of the overall labor force. As home building has recovered, there has been a significant labor market… Read More ›

Construction Sector a Leader for Job Growth over the Next Decade

The construction industry is expected to experience a significant amount of employment growth over the next decade, according to new projections from the Bureau of Labor Statistics (BLS). The BLS employment projections are designed to estimate labor market changes given assumptions and estimates involving structural economic factors. The estimates assume full employment and do not attempt to estimate cyclical or business cycle effects. The current edition… Read More ›

Most Homebuilders are Small Businesses

Based on the recently released 2012 Economic Census data, new NAHB research shows that residential construction remains the industry of independent entrepreneurs with 81 percent of homebuilders and specialty trade contractors being self-employed independent contractors. Even among establishments with paid employees, the industry is dominated by small businesses, with two-thirds of homebuilders and three out of four specialty trade contractors… Read More ›

Construction Sector Share of Gross State Product

Nationally, housing accounted for 15.31% of the real GDP in the second quarter of 2015, with home building and remodeling (residential fixed investment) contributing to 3.21 percentage points of that total. It is also worthwhile to know the importance of the construction sector to local economies. The Bureau of Economic Analysis provides the geographic distribution of economic output due to… Read More ›

Sale and Contract Prices per Square Foot in 2014

For single-family homes started in 2014, median prices, excluding improved lot values, range from $159 per square foot for contractor-built homes in the Pacific and New England divisions to $80 per square foot for speculatively-built homes in the East South Central division. The most expensive new single-family homes in 2014 were contractor-built homes in the Pacific and New England divisions with the… Read More ›

Americans Spent $150 billion on Home Improvements & Repairs in 2013

If one wanted to understand the characteristics of the housing stock in the US, including its size, composition, physical conditions, home improvements, characteristics of recent movers, and housing costs, the American Housing Survey (AHS) would be the place to go. The AHS is conducted every other year by the Census Bureau and sponsored by the Department of Housing and Urban… Read More ›

Americans Spent $150 billion on Home Improvements & Repairs in 2013

If one wanted to understand the characteristics of the housing stock in the US, including its size, composition, physical conditions, home improvements, characteristics of recent movers, and housing costs, the American Housing Survey (AHS) would be the place to go. The AHS is conducted every other year by the Census Bureau and sponsored by the Department of Housing and Urban… Read More ›

Vinyl is the Most Widely Used Exterior for New Homes

According to data from the Census Bureau’s Survey of Construction (SOC) and NAHB analysis, vinyl (including vinyl-covered aluminum) was the most common exterior wall material used in homes started in 2014 (29 percent), followed by stucco and brick or brick veneer (23 percent each), and fiber cement siding (such as Hardiplank or Hardiboard) (18 percent). The principal exterior wall material… Read More ›

US Government: Number of Builders Declined 50% Between 2007 and 2012

Much like it counts people every 10 years, the US government counts American businesses every 5 years.  This is done through the Economic Census, which is conducted by the Census Bureau in years ending in 2 and 7.  Results for the residential construction industry for 2012 were recently released, officially confirming what we already knew:  a significant number of builders… Read More ›