Tag Archive for ‘residential construction’

One-person Firms in Residential Construction: Many but Small

In 2014, there were 1.7 million one-person firms in specialty trade contracting (carpenters, electricians, plumbers, etc.), 582,000 in residential building construction (e.g., home builders and remodelers), and 11,000 in land subdivision (developers of residential lots). These numbers come from the latest U.S. Census Bureau’s Nonemployer Statistics,  which define a nonemployer as a business with no-paid employees, which means essentially that… Read More ›

Housing Affordability Posts Second Straight Quarterly Gain

Spurred by a modest reduction in mortgage interest rates and favorable home prices, nationwide housing affordability in the first quarter of 2016 posted a slight increase, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI). In all, 65.0 percent of new and existing homes sold between the beginning of January and end of March were affordable… Read More ›

Housing Preferences across Generations (Part III)

A majority of home buyers across all generations, whether Millennials, Gen X’ers, Boomers, or Seniors, want to buy a single-family detached home and most want to see the laundry equipment on the first floor. A majority of the oldest two cohorts also prefer single-story homes. These findings come from the latest NAHB study on housing preferences, Housing Preferences of the… 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 ›

One Point in the HMI Eventually Means 37,000 Jobs

Every month, the NAHB/Wells Fargo Housing Market Index  (HMI) provides an overall measure of builder confidence in the strength of the single-family housing market. Also every month, the U.S.  Bureau of Labor Statistics (BLS) produces estimates of employment in residential construction  (or at least it has since 2001, when it began to split jobs in the various trades into residential… Read More ›