Author Archives

  • Women in Construction: Employment Reaches Pre-Recession Levels

    The number of women employed in the construction industry grew substantially in 2018 rising to 1.1 million, a total reached prior to the Great Recession. 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 could represent a potential opportunity for the… Read More ›

  • Private Residential Construction Spending Declines in June

    NAHB analysis of the most recent Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $507.2 billion in June. It was down 0.5% after being virtually flat in May and rising 0.9% in April. On a year-on-year basis, total private construction spending was down 8.1%. The monthly declines are… Read More ›

  • Personal Income Rises in June

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income rose 0.4% in June, an increase of the same margin for the fourth consecutive month. Gains in personal income are largely driven by increases in compensation of employees. Year over year, personal income increased by 3.3%. Real disposable income, income remaining after adjusting for… Read More ›

  • Homeownership Rate Falls

    According to the Census Bureau’s Housing Vacancy Survey (HVS), the nation’s homeownership rate in the second quarter of 2019 fell to 64.1%, the lowest since the third quarter of 2017. But it is statistically unchanged from the first quarter of 2019 (64.2%) and a year earlier (64.3%). Compared to the peak of 69.2% in 2004, the homeownership rate is 5… Read More ›

  • Aging Construction Workforce

    NAHB analysis of the most recent 2017 American Community Survey (ACS) data reveals that the median age of construction workers is 42, a year older than a typical worker in the national labor force. Aging construction workers and the ongoing labor shortage are two major headwinds for home builders and the overall construction industry. As home building sector continues its… Read More ›

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  • Spending on Residential Improvements Edges Down in March

    The most recent data from Construction Spending showed that spending on residential improvements fell to a seasonally adjusted annual rate of $173 billion in March 2019, down by 3.1% over February estimate, and was 14.1% lower than a year ago. Residential Improvement Spending has experienced weakness after reaching the peak of $216.7 billion in April 2018. The recent downward trend… Read More ›

  • Private Residential Construction Spending Declines in the First Quarter 2019

    NAHB analysis of Census Construction Spending data shows that total private residential construction spending stood at a seasonally adjusted annual rate (SAAR) of $500.9 billion in March, the lowest level since December 2016. It was the third consecutive monthly decrease after a rebound in December 2018. The total private residential construction spending was down by 1.8% in March after a… Read More ›

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  • Personal Income Edges Up in March

    The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income inched up 0.1% in March after a 0.2% gain in February and a 0.1% decrease in January. Gains in personal income are largely driven by increases in compensation of employees. Year over year, personal income increased by 3.8%. Real disposable income, income remaining after… Read More ›

  • Homeownership Rate Dips to 64.2%

    According to the Census Bureau’s Housing Vacancy Survey (HVS), the U.S. homeownership rate declined to 64.2% in the first quarter of 2019, which is 0.6 percentage points lower than the last quarter reading of 64.8%. However, it is virtually unchanged from the first quarter of 2018. The rate of homeownership is still on an upward trend after dropping to a… Read More ›

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  • Personal Income Edges Up in February

    The most recent data release from the Bureau of Economic Analysis shows that personal income was up by 0.2% in February after a 0.1% dip in January 2019. The increase of personal income in February was mostly driven by increases in wages and salaries, government social benefits to persons, and proprietor’s income. Real disposable income*, income after adjusted for taxes… Read More ›