Author Archives

  • Nation’s Stock of Second Homes

    According to NAHB estimates, the total count of second homes was 7.5 million, accounting for 5.5% of the total housing stock in 2018, the most recent data available. As of 2018, the state with the largest stock of second homes was Florida (1.1 million), accounting for 14.5% of all second homes. South Dakota had the smallest stock, approximately 20,000 second… Read More ›

  • Personal Income Declined in August

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income decreased in August to a seasonally adjusted annual rate (SAAR) of $19,493 billion. It dropped 2.7% in August due to the expiration of the expanded unemployment insurance benefit, which provided a weekly supplement payment of $600 for the unemployed through the end of July…. Read More ›

  • Strong Gains in August for Single-family Construction

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $589.4 billion in August. It was up 3.7% over the upwardly revised July estimates. Total private residential construction spending was 6.7% higher than a year ago. The monthly gain is largely attributed to the steady growth of… Read More ›

  • Time to Build a Single-Family Home in 2019

    The 2019 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 8.1 months, which usually includes a little over a month from authorization to start and another 7 months to finish the construction. The average time to build a single-family home has been on an upward trend since 2014… Read More ›

  • Good News for Women in Construction: Employment Rising

    The number of women employed in the construction industry grew substantially in 2019 rising to around 1.2 million, surpassing the peak of pre-recession employment level. As the construction skilled labor shortage remains a key challenge, adding new workers is an important goal of the industry. Bringing additional women into the construction labor force represents a potential opportunity for the future…. Read More ›

  • Apartment Construction Took Longer in 2019

    The average length of time to complete construction of a multifamily building, after obtaining authorization, is 17.3 months, according to the 2019 Survey of Construction (SOC) from the Census Bureau. The authorization-to-completion time has been on an upward trend since 2013, as regulatory challenges expanded and the skilled labor shortage challenged the industry. The average time to build multifamily homes… Read More ›

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  • Personal Income Up in July

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased to a seasonally adjusted annual rate (SAAR) of $20,043 billion. It was up 0.4%, after a 1.0% decline in June. This increase in personal income largely came from the gains of wages and salaries ($149.9 billion) as the economy continued to reopen in… Read More ›

  • Private Residential Construction Spending Up 2% in July

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $546.6 billion in July. It was up 2.0% this month after four consecutive monthly decreases. Total private residential construction spending was 0.5% higher than a year ago. The monthly gain is largely attributed to the steady growth… Read More ›

  • Private Residential Construction Spending Declined in June

    NAHB analysis of the Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $534.2 billion in June. It was down 1.5% in June, after a 3.6% decline in May and a 4.4% decrease in April, due to the economic consequences of the COVID-19 lockdowns. On a year-over-year basis, total… Read More ›

  • June Personal Income Declined 1.1%

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income decreased in June to a seasonally adjusted annual rate (SAAR) of $19,880 billion. It dropped 1.1% in June, after a 4.4% decline in May. This decrease in personal income largely came from the decline in government social benefits, because the majority of one-time stimulus… Read More ›