Construction Statistics consists of blogs about starts and permits, construction spending, the Home Building Geography Index (HBGI) and more.
The construction labor market remains tight, as the industry sees a rising number of job openings year-over-year. The count of open construction jobs increased for the month to 380,000 unfilled positions in January. The highest measure in the history of the data series (going back to late 2000) was 416,000 in April 2019. The housing…
Per the latest results of NAHB’s Home Building Geography Index (HBGI), single-family home building showed higher growth rates across all regional submarkets in the fourth quarter of 2021, relative to the fourth quarter of 2020. Quarterly growth, however, trended downwards for all regions in the third and fourth quarters of 2021. Supply-side constraints and expectations…
NAHB analysis of Census Construction Spending data shows that total private residential construction spending rose 1.3% in January after an increase of 2.2% in December 2021. Spending stood at a seasonally adjusted annual rate of $829.4 billion. Total private residential construction spending was 13.4% higher than a year ago. These monthly gains are attributed to…
The missing middle construction sector includes development of medium-density housing, including townhouses, duplexes and other small multifamily properties. While townhouse construction has trended higher in recent quarters, the multifamily segment of the missing middle (apartments in 2 to 4 unit properties) has disappointed. For 2021, there were only 12,000 starts of such residences. This is flat from…
Confidence in the market for new multifamily housing improved in the fourth quarter of 2021, according to the latest results from NAHB’s Multifamily Market Survey (MMS). The MMS produces two main indices. In the fourth quarter, the Multifamily Production Index (MPI) increased one point to 54 from the previous quarter while Multifamily Occupancy Index (MOI)…
NAHB’s analysis of Census Data from the Quarterly Starts and Completions by Purpose and Design survey indicates custom home building expanded by 10.8% in 2021 amid strong demand for move-up purchases given a rise in existing home equity. There were 49,000 total custom building starts during the final quarter of 2021. This marks a 11.4% gain from…
According to NAHB analysis of the most recent Census data of Starts and Completions by Purpose and Design, townhouse construction jumped 28.1% in 2021. As housing demand has shifted to more suburban and exurban areas and housing affordability headwinds persist, medium-density construction lagged for much of 2020. However, demand for medium density neighborhoods returned as the…
