Natalia Siniavskaia

States with Highest and Fastest Rising Construction Wages

As the construction labor market remains tight and skilled labor shortages persist, wages in construction continue to rise, often outpacing and exceeding typical earnings in other industries. According to the latest Current Employment Statistics (CES) report from the Bureau of Labor Statistics (BLS), average hourly earnings (AHE) in construction vary greatly across 43 states that…

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Most Homebuilders are Small Businesses

New NAHB research shows that despite declining self-employment rates and the rising top builder market share, residential construction remains the industry of independent entrepreneurs with close to 80% of homebuilders and specialty trade contractor firms being self-employed independent contractors. Even among firms with paid employees, the industry continues to be dominated by small businesses, with…

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Operation Costs per Dollar Value Lower for New Homes

New NAHB research based on the latest 2019 American Housing Survey (AHS) shows that, on average, homeowners spend around $9,240 per year to operate and maintain a single-family detached home. This includes property taxes, insurance, maintenance and utilities, with property taxes being the costliest component. Annual operating costs increase consistently with household income, home size…

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