The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.4% in September, the eighth consecutive monthly increase of this year. Gains in
NAHB analysis of the Survey of Construction (SOC) shows that 67% of all new single-family homes started in 2021 were built on slab foundations, followed by 21% of homes built
Private residential construction spending declined 0.9% in August, as single-family construction spending slid amid surging mortgage rates. Private residential construction spending declined for the third consecutive month, standing at an
The number of women employed in the construction industry increased to over 1.24 million in 2021, as the construction industry was quickly recovering jobs lost earlier during the pandemic induced
The most recent Home Building Geography Index (HBGI) shows that home building activities have shifted to low-density and low-cost markets since the beginning of the COVID-19 pandemic. The market share
Private residential construction spending declined further in July, as rising mortgage rates and elevated construction costs put a damper on the market. It fell 1.5% in July, down for the
Private fixed investment in student dormitories declined 4.4% to a seasonally adjusted annual rate (SAAR) of $3.2 billion in the second quarter of 2021, according to the data released by
The Census Bureau’s Housing Vacancy Survey (CPS/HVS) reported the U.S. homeownership rate at 65.8% in the second quarter of 2022, which is statistically unchanged from the last quarter reading (65.4%).
As mortgage rates reached 3-year high, private residential construction spending decreased 1.6% to a seasonally adjusted annual rate (SAAR) of $923.7 billion in June, according to NAHB’s analysis of the
The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.6% in June, making its ninth monthly increase in the past 12 months.
The 2021 Survey of Construction (SOC) from the Census Bureau shows that the average completion time of a single-family house is around 8.2 months, which typically includes a little over
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.
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 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%
Hispanics are an important source of labor in the U.S. construction industry, where skilled labor shortage is a long-term issue. One in three workers in the US construction industry is
The median age of owner-occupied homes is 39 years, according to the latest data from the 2019 American Community Survey. Compared to a median age of 31 years in 2005,
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 0.9% in April after an increase of 0.7% in March 2022. Spending stood at a
According to NAHB estimates, the total count of second homes was 7.15 million in 2020, accounting for 5.11% of the total housing stock. This represents the most recent data available.