Information obtained from the US Census Bureau’s Survey of Construction (SOC) and tabulated by NAHB, shows that the rising trend of single-story homes reversed in 2021. The share of single-story
Average hourly earnings for residential building workers* continue to rise in May as the construction labor market remains tight, meanwhile the growth rate is trending down given tightening financial conditions
Despite interest rate hikes, job growth remained solid in June. Total nonfarm payroll employment increased by 372,000 and the unemployment rate remained at 3.6% in June. Construction industry employment (both
The average length of time to complete construction of a multifamily building, after obtaining authorization, is 17.5 months, according to the 2021 Survey of Construction (SOC) from the Census Bureau.
Per the Mortgage Bankers Association’s (MBA) survey through the week ending July 1, total mortgage activity decreased, with the 30-year fixed-rate mortgage (FRM) rate reaching 5.8% on average. The latest
The construction labor market remains tight, but the total number of open construction sector jobs has likely reached a cyclical peak as economic activity slows in response to tighter financial
The earlier June post highlighted the rising number and share of Hispanics in the construction industry. Hispanics now account for almost a third of the construction workforce, according to the
NAHB analysis of the Census Bureau’s quarterly state and local tax data shows that $672.9 billion in taxes were paid by property owners in the four quarters ending Q1 2022
NAHB analysis of the Census Construction Spending data shows that private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $938.2 billion in May. It was 0.2%