Private fixed investment in student dormitories increased by 2.2% to a seasonally adjusted annual rate (SAAR) of $3.9 billion in the third quarter of 2024. This rise follows a 7%
Private residential construction spending inched up 0.2% in September, according to the Census Construction Spending data. The September report shows a 4.1% rise compared to a year ago. The
Personal income increased by 0.3% in September, following a 0.2% up in August and a 0.3% increase in July, according to the most recent data release from the Bureau of
The homeownership rate for those under the age of 35 dropped to 37% in the third quarter of 2024, reaching the lowest level since the third quarter of 2019, according
As of 2023, nearly 40% of homeowners in the United States are mortgage-free, the highest level seen in the past 13 years. With elections approaching, it is valuable to analyze
In 2023, the total number of second homes was 5.7 million, accounting for 4% of the total housing stock, according to NAHB estimates of the 2023 American Community Survey. Second
Private residential construction spending fell 0.3% in August, according to the Census Construction Spending data. Nevertheless, it remained 2.7% higher compared to a year ago. The monthly decline in total
The average length of time to complete construction of a multifamily building after obtaining authorization was 19.9 months in 2023, according to the 2023 Survey of Construction (SOC) from the
In 2022, the total count of second homes was 6.5 million representing 4.6% of the total housing stock, according to NAHB estimates. This reflects a decline from 2020, when the
Private residential construction spending fell 0.4% in July, according to the Census Construction Spending data. Nevertheless, spending remained 7.7% higher compared to a year ago. The monthly decline in total
The average completion time of a single-family house in 2023 was approximately 10.1 months, breaking down to 1.5 months for authorization to start construction and another 8.6 months to finish
Private residential construction spending was down 0.3% in June, after a dip of 0.7% in the prior month, according to the Census Construction Spending data. Nevertheless, it remained 7.3% higher
The U.S. homeownership rate was 65.6% in the second quarter of 2024, unchanged from the first quarter of 2024, according to the Census’s Housing Vacancies and Homeownership Survey (HVS). However,
Private fixed investment in student dormitories declined 5% to a seasonally adjusted annual rate (SAAR) of $3.7 billion in the second quarter of 2024, after a 2.8% decrease in the
Personal income inched up 0.2% in June, down from a 0.4% increase in the prior month, according to the most recent data release from the Bureau of Economic Analysis (BEA).
Private residential construction spending was down 0.2% in May after surging 0.9% in the prior month, according to the construction spending data by the U.S. Census Bureau. Nevertheless, spending remained
Diversifying the construction labor force is a key strategic goal given the ongoing skilled labor shortage. The latest labor force statistics from the 2022 American Community Survey[1] show that Non-Hispanic
In 2022, around 1.29 million women worked in construction in the United States, accounting for 10.97% of the industry, according to the 2022 American Community Survey. Within the construction industry,