Tag Archive for ‘remodeling’

Pending Sales Momentum

The Pending Home Sales Index increased for the third straight month in March to a level 11.1% above the same period a year ago.  The Pending Home Sales Index (PHSI), a forward-looking indicator based on signed contracts reported by the National Association of Realtors (NAR), increased 1.1% in March to 108.6, up from an upwardly revised 107.4 in February. The… Read More ›

Occupations in the Home Building and Remodeling Industry

Home building, remodeling and the overall residential construction industry support many types of jobs. BLS data from the 2014 Occupational Employment Statistics (OES) Survey, and NAHB analysis, provide a count of these occupation classes. The OES survey defines employment as the number of workers who can be classified as full- or part-time employees. The following profile examines the Residential Building Construction industry group,… Read More ›

Top Builder Challenges

Builders surveyed in January 2015 ranked the most significant problems expected to face the industry in 2015. Topping the list was the Cost/Availability of Labor, an issue which has increased in importance the past two years. In 2013, 53% of builders rated Labor as a significant problem, followed by 61% in 2014 and 68% in 2015. This trend suggests an… Read More ›

Wage Growth in the Home Building/Remodeling Industry

Over the 2012-2014 period, rising job openings and employment in the residential construction industry have led to wage increases, with some occupations within the home building and remodeling sector experiencing wage growth at a rate twice the national average. According to Bureau of Labor Statistics Occupational Employment Statistics Survey (OES) data and NAHB analysis, the 2014 median annual wage of most positions in… Read More ›

Spring for Existing Home Sales in America?

Existing home sales soared 6.1% in March, and the share of sales for first-time buyers also increased. The National Association of Realtors (NAR) reported March 2015 total existing home sales at a seasonally adjusted rate of 5.19 million units combined for single-family homes, townhomes, condominiums and co-ops, up from an upwardly revised 4.89 million units in February. March existing sales… Read More ›

Construction Job Openings Grow

The number of open, unfilled construction sector positions increased noticeably in February. Overall, the construction labor market has been characterized by relatively higher levels of turnover over the last few months, with an increase in hiring and quits at the end of 2014 and an upward trend in job openings. According to the BLS Job Openings and Labor Turnover Survey (JOLTS) and NAHB analysis,… Read More ›

NAHB Updates Local Impact of Home Building Numbers

A recent Eye on Housing post reported on NAHB’s 800th customized local impact study. In addition to studies customized to a particular area, NAHB has traditionally produced a “typical local” report using national average inputs.  This report—showing the jobs, income and taxes generated by residential construction in a typical local area—is available free to everyone on NAHB’s web site. In April 2015, NAHB… Read More ›

Strong First Quarter for Consumer Confidence

The University of Michigan Index of Consumer Sentiment reached a ten-year peak of 95.5 in the first quarter of 2015. Although the Index of Consumer Sentiment Index decreased to 93.0 in March from 95.4 in February, it was up from 80.0 from March 2014. The harsh winter dampened the giddiness of falling gasoline prices from the start of the year…. Read More ›

Housing Share of GDP Holds Constant

With the release of the final estimates of fourth quarter GDP growth (2.2%), housing’s share of gross domestic product (GDP) was 15.25%, with home building and remodeling yielding 3.09 percentage points of that total. Housing-related activities contribute to GDP in two basic ways. The first is through residential fixed investment (RFI). RFI is effectively the measure of the home building and… Read More ›