Tag Archive for ‘home building’

Regulation: Over 30 Percent of the Cost of a Multifamily Development

Regulation imposed by all levels of government (whether local, state or federal) accounts for 32.1 percent of the cost of an average multifamily development, according to a new study conducted jointly by the National Association of Home Builders (NAHB) and the National Multifamily Housing Council (NMHC).  The study is based primarily on a survey of multifamily developers from both organizations. The results… Read More ›

Consumer Prices Rise

The Bureau of Labor Statistics (BLS) reported that consumer inflation rose by 0.2 percent in May, similar to its growth rate in April. Both food and energy prices decelerated over the month, but the slowdown in these items was offset by an acceleration in core CPI to 0.2 percent, from 0.1 percent in April. Over the year, headline inflation climbed… 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 ›

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 ›

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 ›