Eye On Housing
Author Archives
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Highest Paid Occupations in Construction
According to the most recent release of the Occupational Employment Statistics (OES) by the Bureau of Labor Statistics (BLS), half of payroll workers in construction earn more than $45,820. In comparison, the US median wage is below $37,700. The OES publishes wages for close to 380 occupations in construction. Out of these, only 54 are construction trades. The other industry… Read More ›
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New Home Building Employment Estimates by Congressional District
The new NAHB estimates show that the average congressional district has more than 8,800 residents working in residential construction but that number is often significantly higher. In Montana’s single Congressional district, close to 20,600 residents are in home building. The latest estimates of home building employment, including self-employed workers, by congressional district highlight the importance of home building to voting… Read More ›
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Construction Self-Employment Rates Exceed 23%
According to the 2016 ACS, over 23% of construction workers are self-employed, while an economy-wide average does not reach 10% of the employed labor force. The high self-employment rates in construction reflect a common practice of builders and remodelers to maintain relatively small payrolls and rely on subcontractors for a large share of the construction work. During the housing downturn,… Read More ›
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NAHB Releases New Home Building Employment Estimates by State
The new NAHB study presents the most recent and comprehensive estimates of home building employment, including self-employed workers, by state. NAHB Economics estimates that out of 9.8 million people working in construction in 2016, more than 3.8 million people worked in residential construction, accounting for 2.5% of the US employed civilian labor force. These numbers reflect modest but steady job… Read More ›
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Concentration of Immigrant Workers across Construction Occupations
As the housing industry gains momentum and the demand for workers increases, labor shortages top the list of the crucial impediments to robust housing recovery. As native-born workers are slow to return to the construction industry, the role and share of foreign-born workers has been rising since the housing recovery got underway. Immigrant workers now account for close to one… Read More ›
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California, Texas, and DC Most Reliant on Immigrant Construction Workers
Earlier this month, we published a post highlighting the rising share of immigrant workers in construction. Immigrant workers now account for close to one in four workers, the highest share recorded by the American Community Survey (ACS). In some states, reliance on foreign-born labor is even more pronounced with immigrants comprising more than 40% of the construction labor force. Traditionally,… Read More ›
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Reluctant Return of Native-Born Construction Workers Drives the Immigrant Share Up
New NAHB research shows that the share of foreign-born workers in the US construction labor force has been rising since the housing recovery got underway. Immigrant workers now account for close to one in four workers, the highest share recorded by the American Community Survey (ACS). The time-series analysis shows that the rising share of immigrants in construction cannot be… Read More ›
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The Geography of Homes Built on Private Wells and with Individual Septic Systems in 2016
NAHB Economics analysis of the Survey of Construction (SOC) data shows that less than 9% of new single-family homes started in 2016 are served by individual wells and close to 16% have private septic systems. These shares, however, vary widely across the nine Census divisions with the corresponding shares reaching 37% and 43% in New England – the highest occurrence… Read More ›
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Lots Account for 17% of New Home Sale Prices
Earlier this month we published two blogs highlighting record-small sizes and record-high prices of new single-family lots. Extending this analysis and incorporating data on new home sale prices shows that, on average, lot values accounted for less than 17% of sale prices of new single-family homes started in 2016, the lowest share since at least 1999. Regionally, the share of… Read More ›
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Sale and Contract Prices per Square Foot in 2016
Looking at single-family homes started in 2016, the median prices per square foot, excluding improved lot values, range from $164 for contractor-built homes in the Pacific division to $81 for speculatively built homes in the East South Central division. At $164 per square foot, new contractor-built single-family homes in Pacific are the most expensive to build exceeding the national average… Read More ›