Tag Archive for ‘economics’

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 ›

Over Three-Fifths of Builders Have Encountered Cluster Mail Boxes

The United States Post Office has been attempting to reduce or eliminate sidewalk and curbside delivery of mail to individual homes, especially in new subdivisions.  Instead, the Post Office now wants to deliver mail primarily to centralized or “cluster” mail boxes, each serving multiple homes in a development. So far, implementation of this policy has varied across the country, as local post offices… Read More ›

April Construction Job Openings Remain Elevated

The count of unfilled jobs in the construction sector was effectively unchanged in April, remaining near post-Great Recession high levels. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis, the number of open construction sector jobs came in at 232,000. The post-recession high count of open, unfilled construction jobs was 255,000 in July of last… Read More ›

Pending Home Sales Decline in April

The Pending Home Sales Index decreased 1.3% in April, and remains 2.1% below the level one year ago, having declined on an annualized basis for the fourth straight month. The Pending Home Sales Index (PHSI) is a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR). The PHSI decreased to 106.4 in April from an… Read More ›

First Quarter Economic Growth Confirmed

The Bureau of Economic Analysis (BEA) reported that economic growth, measured by the annualized growth rate of real GDP, was revised to 2.2 percent from the advance estimate of 2.3 percent. The modest downward revision confirms the extent of economic growth over the first quarter of the year. The second estimate of first quarter GDP also included the first estimate… Read More ›

NAHB Releases Remodeling by Zip Code Estimates for 2018

With this post NAHB announces the release of its latest estimates of spending on improvements to owner-occupied homes at the zip code level.  The new estimates are for calendar year 2018 and include the number of owner-occupied homes, the number with improvement spending during the year, the average spending per improved home, total spending on improvements within the zip code, and the drivers of remodeling activity used to… Read More ›

Existing Sales Retreat 2.5% in April

Existing-home sales decreased 2.5% in April to a level 1.4% below a year ago, and sales have now decreased year-over-year for two consecutive months. The first-time buyer share of 33% was an increase from last month, but remains down from 34% a year ago. The National Association of Realtors reported that 57% of homes sold last month were on the… Read More ›

Steady AD&C Loan Growth

The volume of residential construction loans increased by 1.8% during the first quarter of 2018, marking 20 consecutive quarters of growth. Furthermore, recent stabilization of year-over-year growth rates is an indicator of continued, modest growth for single-family construction. Tight availability of acquisition, development and construction (AD&C) loans has been a limiting factor for home building growth, but easing credit conditions and a growing loan base have helped expand residential… Read More ›